Editing Structuralism (section)

== In economics ==
{{Main|Structuralist economics}}
Yifu Lin criticizes early structural economic systems and theories, discussing the failures of it. He writes:<blockquote>"The structuralism believes that the failure to develop advanced capital-intensive industries spontaneously in a developing country is due to market failures caused by various structural rigidities..." "According to neoliberalism, the main reason for the failure of developing countries to catch up with developed countries was too much state intervention in the market, causing misallocation of resources, rent seeking and so forth."</blockquote>Rather these failures are more so centered around the unlikelihood of such quick development of these advanced industries within developing countries.<ref>{{Cite journal |last=Yifu Lin |first=Justin |date=January 2019 |title=New Structural Economics: The Third Generation of Development Economics |journal=Boston University: Global Development Policy Center |pages=2–3 |via=}}</ref>

=== New Structural Economics (NSE) ===
New structural economics is an economic development strategy developed by [[World Bank Chief Economist]] [[Justin Yifu Lin]]. The strategy combines ideas from both [[neoclassical economics]] and structural economics.

NSE studies two parts: [[Base and superstructure|the base and the superstructure]]. A base is a combination of forces and relations of production, consisting of, but not limited to, industry and technology, while the superstructure consists of hard infrastructure and institutions. This results in an explanation of how the base impacts the superstructure which then determines [[Transaction cost|transaction costs]].<ref>{{Cite web |date=June 17, 2024 |title=About NSE |url=https://www.nse.pku.edu.cn/en/research/introduction/index.htm#:~:text=New%20Structural%20Economics%20is%20a,time%20and%20changable%20over%20time. |website=Institute of New Structural Economics}}</ref>