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In the early twenty-first century, the citizens of many Latin American countries, such as Argentina, Bolivia, Brazil, Ecuador, and Venezuela, elected left-wing governments, explicitly rejecting and attempting to reverse the policies of neoliberal structural economic adjustment that had prevailed in the region during the 1990s. However, in other countries such as Chile, Colombia, Mexico, and Peru continuity and even extension of the neoliberal agenda have been the norm.

What were the consequences of rejecting the neoliberal consensus in Latin America? Why did some countries stay on...