Latin America in the neoliberal and postneoliberal eras

Gabriel Hetland

Chapter 5 in The Elgar Companion to the Economies of Latin America and the Caribbean, 2025, pp 146-157 from Edward Elgar Publishing

Abstract: This chapter examines Latin America during the neoliberal and post-neoliberal eras. Neoliberalism thoroughly transformed Latin American countries, achieving hegemony at the level of the political elite, but generating widespread social protest due to the negative effects marketization brought about. This social protest helped facilitate the election of leftist executives across the region in what is known as the pink tide. The chapter employs a neo-Gramscian framework to understand the variation within the pink tide, which is traced to whether social protest occurred within or beyond established political institutions. The chapter also examines notable commonalities amongst pink tide cases, particularly the real if limited progress leftist governments made combatting poverty and inequality, the pink tide's material basis in the post-2003 commodity boom, and conservative reaction that the election of leftist presidents sparked in many countries. The chapter closes by examining broader lessons of the neoliberal and post-neoliberal era and considering whether a recently-elected second set of leftist leaders (in the so-called pink tide 2.0) might be able to overcome the limits of their predecessors on issues such as climate change.

Keywords: Neoliberalism; Post-neoliberalism; Pink tide; Extractivism; Compensatory state (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035317196
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