The industrial development of Ecuador has made fortunes for some, but has largely bypassed the general population. Armed by its new power, the bourgeoisie has captured sate mechanisms for its own advancement, leading to the paradox of a \u201cdemocratic authoritarianism.\u201d In this study, Catherine M. Conaghan views the crucial differences between the social and economic changes in newly developed Latin American nations and those of the southern cone. Using Ecuador as her case study, she shows how industrial growth has given birth to an exclusive, ingrown bourgeoisie that is highly dependent on the state and foreign capital and is increasingly alienated from the peasants and urban poor.