The fall of the pink tide: lessons for the contemporary left

The article is focused on reviewing the performance of left-wing governments that dominated Latin America at the beginning of the 21st century. The purpose is to identify and analyse significant shortcomings and challenges faced by pink tide governments in relation to social progress, economic development and regional integration. Drawing from previous studies and reports on social progress, development, political economy, and regionalism, I argue that the left fell short of its promise to tackle inequality sustainably and comprehensively. Moreover, the pink tide failed to ensure stable economic growth due to over-reliance on natural-resource exports and was not successful in strengthening regional cooperation. Nowadays, six major Latin American economies are run by the left, which some perceive as a resurgence of the pink tide. Based on the analysis of the experiences and factors that contributed to the political decline of the original pink tide, the article provides key lessons for the new generation of Latin American left-wing governments. By using an explanatory and comparative research method, I examine the social, economic and political context of the region with the purpose of juxtaposing the two waves, highlighting present challenges faced by regional actors, and offering recommendations for the contemporary Latin American decision-makers.