Is Latin America rejecting socialism? A positive trend appears to be developing.

On Sunday, the ruling left-wing government of Bolivia saw its candidate win just 3% (not a typo) of the vote, as citizens revolted against the economic crisis it created. Inflation there is running at 16% a month and there are shortages of gasoline and diesel fuel in a country that once produced half of its own energy. Doesn’t that always seem to happen with leftist governments?

Other countries may soon shift to the right. In Chile, analysts give Jose Antonio Kast, who comes from a family that helped shape the country’s economic reforms in the 1980s, an 80% chance of replacing the current left-wing government. Gustavo Petro, the anti-Trump president of Colombia, has a 64% disapproval rating with elections scheduled for next May.

Why is there a turn to the right and free market reforms in South America? In part because of the resounding success of Javier Milei in Argentina. His party is expected to win a big thumbs up victory in midterm elections as inflation falls and business conditions have markedly improved. Freedom and prosperity are a winning ticket.