If you think that level of analysis is happening....you're mistaken.
Many cannot read or write, depending upon where they are from....maybe have as little as what you would consider a 2nd grade education.
...but it doesn't take a in-depth understanding of something (like economics) to have one's viewpoint shaped by bad experiences.
Even if someone only has that 2nd grade education, one doesn't have to be a Milton Friedman or John Keynes to look at their own surroundings and and quickly lose faith in what their own leaders are telling them and want to get out of there.
And as I noted before Latin America is one of the few regions that's experienced the worst of both forms of economics, which has left some of their countries corruption-prone, and in economic ruin.
Typically, if a nation has a particularly bad experience with one particular system of economics, they rally behind a candidate that voices the opposing viewpoint. (For instance, in Chile, after their experience with Pinochet, they took a hard left-turn and embraced a more socialistic model...or in the case of India, they tried a socialistic model post-WW2, it failed, and they switched to a capitalistic model)
If the attempt at the other form fails, then the next phase of the pattern is typically to see people rallying behind some sort of populist "man of the people" type of leader, who tends to run on a "both established factions are corrupt and have been lying to you, but I'm going to fix it!" type of message... EX: Nayib Bukele in El Salvador.
However, when a nation has tried the individualist, collectivist, populist models (or at least been told that's what the country is embracing by those running the show)...and all three have failed them, and people aren't seeing any improvements to their lives (or see the problems getting worse), that's when you start to see sentiments of unrest, or people simply saying "time to pack up and find somewhere else".