he fashionable current narrative of a "swing to the left" in Latin America, espoused by commentators of left and right alike, appears to have a lot of evidence to commend it: the election of centre-left governments in Brazil and Chile, of more radical figures in Venezuela and Bolivia, and the wave of social protests and convulsions in countries as different as Argentina, Ecuador and Mexico in the first years of the 21st century.

The narrative, however, is only skin-deep. It overlooks a key factor: the populist, nationalist and authoritarian currents that have resurfaced in many places. A full account of this factor reveals that the deeper Latin America story is not a renascent left but a populist resurgence that is further eroding already damaged political institutions.