This Washington Post article reports from Ecuador a government take-over of a number of businesses, including television stations and newspapers. The government of Ecuador's President Rafael Correa leans left and aligns itself with Venezuela's Chavez, Nicaragua's Ortega and Bolivia's Morales. All are anti-U.S. and anti-capitalist, to varying degrees.
Control of most resources by a few oligarchs has historically characterized Latin America, making populist resentment understandable. On the other hand, Latin American governments have compiled a dismal record of failed attempts to run economic enterprises. The countries which are experiencing economic growth have a capitalist, free trade orientation: Chile, Peru, and Brazil.
Latin America is not the first to confront this age-old dilemma. What feels fair doesn't work and what works doesn't feel fair. As mystery author Trevanian once had a character say, "Socialism is not a way to share the wealth; it is a way to share the poverty."
Good luck, Ecuador.
