In the wake of mobilizations against neoliberalism in the 1990s, most South American countries elected presidents identified with political change. However, less than twenty years after Hugo Chávez's victory, this trend seems to be reversed. Lula 's tenure has ended and Bolsonaro's has begun. What happened? Supported by an extensive bibliography and hundreds of interviews, the author addresses the trajectory of each South American country, including those which did not elect progressives, in addition to Cuba. The various national examinations are enriched by an analysis of regional integration attempts, providing a detailed and necessary recent history of the subcontinent.Originally published in Portuguese as by Elefante, São Paulo, 2018.