@turquoise-- But you do understand why that happened right? US essentially had no choice because the Soviet threat was looming large and socialist movements had begun in Latin American countries. It was important for the US to protect itself and North America in large against the Soviet Union. So the Good Neighbor policy became unfeasible at that point.
I agree that the US needs to adopt aspects of this policy once again. I think that regional economic agreements such as NAFTA have been a great step towards friendly relations with neighbors. More can be done however.