South America is one of the regions I am wayyyyy less than informed about. Trying to untangle the corruption, feuding, and coup on top of junta on top of dictatorships makes my head hurt. I'm sure I'm not the only one who's neglected our own backyard while trying to get knowledges about the sandbox.
Calling it "our own backyard" is one of the key errors made in analyzing the area. I had the same attitude prior to serving down there, and while I tempered that after my tour, further (formal) study highlighted how f-ed up that perception is. These are hemispheric neighbors, not client states. Hell, throw out any "save the world" idea and just look at the sustainable economic potential of engagement focused on partnerships vice hegemony. We're talking about a region with a notorious history of subjugation. Look up "caudillo" and "caudillismo." While an emphasis on transparency and accountability HAS improved things (in varying degress depending on specific nation), economically motivated colonization driven by states and the Church has led to a legacy system still mired in class-orientated exploitation.
If you're serious about learning something:
"Modern Latin America," Skidmore and Smith: Quintessential and concise modern history of the region. Easy read, recognized as authoritative and impartial.
"Born in Blood and Fire: A Concise History of Latin America," John Charles Chasteen: Blatantly leftist and poorly edited, but still insightful, particularly in regard to race relations (i.e. african influences in the region).
"The Cosmic Race aka La Raza Cosmica," Jose Vasconcelos: Widely (and incorrectly) viewed as a diatribe centered on racial superiority, this is a great piece on the potential inherent in societies comprised of multiple cultures and races.
"Ambivalent Conquests: Maya and Spaniard in Yucatan, 1517-1570," Inga Clendinnen: Dry but interesting recount of the Church and its attempt to eradicate native culture and power structures.
"Latin America's Political Economy of the Possible: Beyond Revolutionaries and Free-Marketeers," Javier Santiso: Quick read that focuses on the development of global economies in relation to international politics. Goes beyond the usual "neo-liberalism is evil and the root of all problems in the region."
"Forgotten Continent: The Battle for Latin America's Soul," Michael Reid: My top pick. The hows and whys of the gradual development of democracy in the region, with particular emphasis on the reasons behind populism's endurance.