The failures of price controls and nationalizations have helped make traditional Latin American populism unpopular. If populism transforms itself into a program for a stronger welfare state, the results could be even worse for economic growth.

Carlos Rodríguez Braun is Professor of History of Economic Thought at the Complutense University, Madrid, Spain.
Defense and Foreign PolicyEconomyFree Market EconomicsInternational Economics and DevelopmentLatin AmericaTrade
Other Independent Review articles by Carlos Rodríguez Braun
Spring 2017 Pride and Profit: The Intersection of Jane Austen and Adam Smith
Winter 2016/17 Piketty Misreads Austen
Winter 2010/11 Bastiat as an Economist
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