Latin America ranks highest in the world in markers of social and economic inequality, as well as in the negative effects of inequality on other realms of social life, such as access to basic services, political power, and, in many countries, unfair treatment by police and the justice system. Yet in Latin America it is not possible to talk about racism, ethnic-racial discrimination, and inequality without taking into consideration the hegemonic narratives of mestizaje and racial democracy that shape the way many Latin American nations think about themselves today. Can a region characterized by extreme levels of social inequality also be ethnically and racially democratic? The pattern of ethnic and racial relations in Latin America is marked by discrimination, but at the same time, it creates mechanisms that prevent individuals from recognizing the existence of discrimination against themselves. This reality carries several complications for census-taking and other forms of statistical data collection intended to measure ethnic-racial inequality. Because the main paradigms of analysis of social inequality prioritize economics and class, they have directly or indirectly strengthened the discourse that in Latin America, there is no racism. Certainly, the future of research on race relations and inequality in Latin America will benefit from new demographic data and public opinion surveys, carried out since the turn of the century, which include the identification of indigenous and Afro-descendant people. This trend may advance the production of studies grounded in more robust empirical evidence of ethnic-racial asymmetry.