In a long and rambling inauguration speech, he saluted Che Guevara, denounced “neo-liberalism” and coca eradication, called for the nationalisation of natural resources and the setting up of state-owned industries, and thanked Venezuela's Hugo Chávez for his support. He also called for private investment, for an “alliance” against the drug trade with the United States, and hinted that he might support an Americas free-trade accord if it helped small business.

His first actions smacked more of radicalism than pragmatism. The cabinet he has formed consists mainly of activists from the social movements that vaulted him to power and their intellectual allies. Nearly all have as little experience of government as Mr Morales, who led a coca growers' union. Carlos Villegas, the new development minister, opposed an IMF-backed economic stabilisation plan which tamed hyperinflation in the 1980s.

The new hydrocarbons minister, Andrés Soliz Rada, a left-wing journalist, will lead negotiations with foreign gas companies. He must try to reconcile Mr Morales's demand for nationalisation of gas with his promise to protect investors' right to profits. Abel Mamani, who led a rebellion to expel a privatised water firm from El Alto, a poor township near La Paz, is the water minister. He has a pragmatic streak.

The cabinet shows that what Mr Morales “really believes is that he has an opportunity to lead a revolution in Bolivia,” argues Roberto Laserna of the University of Cochabamba. For that, “you don't need administrators”. Alternatively, he wants to placate the social movements, which have brought down two presidents since 2003, in order to pursue pragmatic policies they would otherwise resist.

It is too early to tell. Mr Morales has signed eight agreements with Mr Chávez. Venezuela will quadruple diesel exports to Bolivia to 200,000 barrels a month and offer political advice, in exchange for Bolivian commodities. But Mr Morales has asked for help from other quarters too.

Bolivia's future may become clearer after a constituent assembly is set up in August. Its job is to “refound” the country, says Mr Morales. He claims to be leading a “democratic revolution” in a poor and unequal country. But will the stress turn out to be on democracy—or on revolution?