The initiative of Presidents George Bush and Bill Clinton to forge a Western Hemisphere community has been staggered by Mexico's economic and political crisis. Is this latest grand design for the hemisphere destined to follow John Kennedy's Alliance for Progress and Franklin Roosevelt's Good Neighbor Policy into the cemetery of frustrated Pan-American dreams? The United States and Canada are prosperous first-world countries with centuries-old democratic institutions; Latin America's countries are poor and, in most cases, experimenting with democratic capitalism for the first time. Can a...