This arc—from nascent classical liberalism to a populism that takes the country backward—is the wider story of 20th-century Latin America. Why did it happen so easily and so frequently? The poverty is easily explained. The failure to respect property rights, the erecting of stifling trade barriers and the wayward monetary decisions that destroyed currencies could have produced nothing else."The Lost Century. The ideas that sent Latin America down the path of poverty and political instability." By Mary Anastasia O'Grady, Wall Street Journal, 8/13/11.