Chileans will head to the polls on Sunday to approve or reject a proposal for a new constitution, which The Economist has described as “a fiscally irresponsible left-wing wish list.”
As I mention in my latest video for Reason, the new constitutional draft bans “job insecurity,” expands welfare programs, mandates gender parity in all public institutions, and grants “social” rights to fund healthcare, housing, and education services. There is little or no regard for the question of who will pay these exorbitant bills. The new constitution also fails to mention or protect mining concessions, a pillar of the current system that has attracted private investment and allowed Chile to become the world’s leading exporter of copper and one of the top producers of lithium.
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