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Chile's Economy

Two Failed Constitutions

How Chileans rejected a left-leaning draft constitution in 2022 and a conservative draft in 2023, keeping the Pinochet-era constitution with amendments.

Chile tried twice to replace its constitution.

Background

The existing constitution dates from 1980, under Pinochet, though heavily amended.

First draft

In September 2022, voters rejected a progressive draft with expanded social rights and environmental protections, by about 62%.

Second draft

In December 2023, voters rejected a conservative draft too.

Result

The old constitution remains, with amendments.

Economic angle

  • Constitutions shape property rights, water rights and social spending.
  • Uncertainty during the process affected investment.

Lesson

Big institutional changes need broad consensus.

The ballot

Voting was compulsory, and millions of Chileans voted twice in two years to reject both drafts.

Thinking protests led to a new constitution

Both drafts were rejected.

Key takeaways
  • Chile's constitution dates from 1980.
  • A 2022 progressive draft was rejected.
  • A 2023 conservative draft was rejected.
  • Uncertainty affected investment.
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