RESUMEN: El autor muestra, desde la experiencia venezolana, que la decadencia de las instituciones políticas populistas tiene la mayor responsabilidad en la crisis que atraviesa América Latina. La reforma del Estado, en sus aspectos económicos, políticos y administrativos, debe entenderse como una oportunidad para restablecer la gobernabilidad y preservar la democracia en el continente.

ABSTRACT: By looking at the Venezuelan experience, the author shows that the decline of the populist political institutions is the main cause of the crisis that Latin America is going through. The reform of the State in its economic, political and administrative aspects must be understood as an opportunity to restore the governance of the system and to preserve the democracy in the continent.