Why “Twenty-First-Century Socialism” Failed

The Bolivarian Revolution improved millions of lives, but it was never able to fundamentally challenge the logic of capital.


In the last six months, South America’s left-of-center governments have experienced major electoral setbacks, giving rise to right-wing victories that might indicate the definite end to the so-called “pink tide.”

In Argentina, self-proclaimed conservative Mauricio Macri became president; the Venezuelan opposition gained a two-thirds majority in parliament; Evo Morales lost a referendum to allow him to seek reelection; and Dilma Rousseff was impeached in a show of power from Brazilian elites.

Until this rightward turn, South America was a bright spot for the international left. The commodities boom — known as the golden decade — renewed discussions about how to achieve a socially just society across Latin America, historically one of the most unequal regions in the world.

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