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The study analyzes the evolution of left-wing discourse in Panama through three emblematic newspapers published between 1917 and 1945: El Verbo Rojo, El Obrero, and El Socialista. Using Critical History and the Discursive Historical Method (DHM), the authors examine how these media outlets functioned not only as sources of information but also as tools for ideological formation, social mobilization, and resistance against the capitalist system and U.S. interventionism. The research is divided into three stages: emergence and education (1917), organization and advocacy (1921–1935), and politicization and crisis (1937–45). The article demonstrates that the left-wing press was fundamental in building a political identity among Panama’s subaltern sectors, transitioning from authentic social agitation to complex institutional fragmentation by the mid-20th century.