Wesley C Marshall
Biographic Data
| ID | 4189010 |
|---|---|
| NAME | Wesley C Marshall |
| GIVEN NAMES | Wesley C |
| FAMILY NAME | Marshall |
| SIGNATURE | MARSHALL W C |
| AFFILIATIONS | Universidad Autónoma Metropolitana |
| ORCID | 0000-0002-6231-7180 |
| VERIFIED | Yes |
| TOTAL WORKS | 18 |
| TOTAL CITATIONS | 31 |
| AUTHOR COUNT | 18 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 2008 |
| LATEST PUBLICATION YEAR | 2026 |
| H-INDEX | 3 |
Central Bank Digital Currencies—An Introductory Note
The rapid expansion of digital currencies—including cryptocurrencies, stable coins and central bank digital currencies (CBDCs)—has reshaped the monetary landscape. As is usual, moments of technological leaps are accompanied by debate over larger and smaller considerations, from how the new technology will effect the course of human development, to what the new thing should be called and how it should be classified within the realm of already exis…
The Legacy of Alain Parguez and his Ongoing Research Agenda: Capitalism, the Financial Circuit and the State
This article traces the pedigree of ideas and the personal and institutional connections that led us to collaborate with Alain Parguez, whose academic legacy we celebrate here by exploring the roots, the current relevance, and the future of his research agenda
Understanding Full Investment and the Potential Role of Public Banks
In this paper, we argue that Keynes correctly diagnosed the principles of ‘sound finance' as limiting human progress, but did not map out a viable alternate solution of ‘full investment', and seems to even warn against it. E.F. Schumacher critiqued Keynes's position that until the problem of production is solved, only following ‘the money motive' could lead humanity out of the tunnel of economic need. Now a half century since Schumacher’s critiqu…
A Tribute to Alain Parguez 1940–2022
International audience
Understanding Central Bank Independence
This article asks a simple question that does not have a simple answer: whose interests do independent central banks serve? Employing a Polanyian lens, we explore the many facets of independent central banks, including their history, their institutional nature and functions, and the academic debate surrounding them, in order to reach several conclusions that can hopefully continue to expand the debate regarding the issue
Global Financial Markets, Central Bank Policy, and the Struggle for Full Employment: Celebrating Eugenia Correa’s Achievements in Political Economy – an Introductory Note
In this introductory piece, the authors reminisce on the role played by the late Eugenia Correa in both Mexico and internationally in developing a counter-hegemonic economic thought that matured in her writings and that was sown in the thinking of a whole generation of students over the last three decades
A Friendly Critique of Minsky's Financial Instability Hypothesis
This article critiques Minsky's Financial Instability Hypothesis, arguing that fraud is a missing element in his theory and the central element in the speculative bubbles that caused “it” to happen twice in the last century in the United States
Populism and (Neo) Liberalism: The Polanyian Perspective Seen from Latin America
This article applies a Polanyian framework to the rise of populism in the countries of the North Atlantic and the fall of the Pink Tide governments in Latin America. By taking a global vantage point from the perspective of Latin America, we argue that haute finance has served as the fulcrum of a single political movement that has washed out governments serving the general will in the South, and washed in governments that do not in the North. As w…
The Crossroads: The Political Economy of the Pandemic
In this article, we analyze the management of the global coronavirus pandemic with a critical focus on global neoliberalism and from the perspective of Latin America. As we argue, after decades of austerity programs and multiple rounds of macroeconomic crises, many lessons can be gleaned as to how global neoliberalism operates. In order to make sense of the global response to the pandemic and how it has been presented to the public, we not only d…
Public Banking and Post-Keynesian Economic Theory
In this article, we make an appeal for the incorporation of public banking into public discourse regarding the management of the U.S. economy. We argue that the history of post-Keynesian thinking shows a perennial interest in offering solutions to financial and economic problems that often involve the participation of the State. However, in more recent history, discussion has revolved around fiscal and monetary policy, with little consideration g…
Latin American Structuralism and Current Financialization
In this article, we attempt to update the understanding of the external constraint in Latin America by examining the recent history of the region through the analytical framework of Karl Polanyi in The Great Transformation. As we argue, the greatest force behind today’s external restriction is the financial sector, much as it was a century ago. To reinforce this hypothesis, we provide the reader with relatively new historical material and with ar…
Guest Editor’s Introduction
Discount Banking in Mexico
In 2013, the US Department of Justice levied a fine on the multinational bank HSBC for several financial crimes, including the widespread laundering of proceeds from the narcotics trade between Mexico and the United States. Other than establishing the too-big-to-prosecute precedent, the case also provided evidence regarding an academically underappreciated banking practice—money laundering as discount banking. In getting to the heart of this form…
The Causes and Consequences of the Misdiagnosis of the Financial Crisis in the United States
Using an analytical framework that divides banking crises into ‘classic’ and ‘secondary’ crises, this article analyzes the banking crisis that broke out in the United States in the summer of 2007 and the response of US authorities. While quite simple in itself, this framework allows for a novel interpretation of the unfolding of the crisis and for evaluating US authorities in the design and implementation of crisis resolution mechanisms. As sugge…
A Critical View of the World Bank’s Climate Change Agenda and Financial Reform in Latin America
Differing Effects of the Global Financial Crisis: Why Mexico Has Been Harder Hit than Other Large Latin American Countries
In this article, we argue that the economic and financial crisis that began in Mexico in 2008 has not been primarily caused by the US crisis that began in 2007, as many have argued. As we will show, years of misguided economic policies at the national level have been at the heart of the Mexican crisis. On the one hand, the dominance of foreign banks in the country's financial system and the minimal presence of the public banks have greatly limite…
Banco del Sur and the Need for Downstream Linkages: The Role of National Publicly Owned Banks
This paper seeks to further the debate surrounding Banco del Sur and the possible roles it can play for both South America in general and for specific member countries. Drawing on lessons from the region's recent history, a case is made for the need to incorporate established national publicly owned banks into Banco del Sur's regional framework if the objectives proposed for the bank are to be fulfilled
Foreign Banks and Political Sovereignty: The Case of Argentina
This paper analyzes a seldom discussed aspect of Argentina's banking crisis of 2001–2002: the conflict that arose between foreign banks and the national government over the economic policies applied in response to the banking crisis. In particular, the paper will examine the foreign banks' strategy to dollarize the economy and to impede the national government's strategy of pesofication
Public Banking and Post-Keynesian Economic Theory
In this article, we make an appeal for the incorporation of public banking into public discourse regarding the management of the U.S. economy. We argue that the history of post-Keynesian thinking shows a perennial interest in offering solutions to financial and economic problems that often involve the participation of the State. However, in more recent history, discussion has revolved around fiscal and monetary policy, with little consideration g…
The Crossroads: The Political Economy of the Pandemic
In this article, we analyze the management of the global coronavirus pandemic with a critical focus on global neoliberalism and from the perspective of Latin America. As we argue, after decades of austerity programs and multiple rounds of macroeconomic crises, many lessons can be gleaned as to how global neoliberalism operates. In order to make sense of the global response to the pandemic and how it has been presented to the public, we not only d…
Differing Effects of the Global Financial Crisis: Why Mexico Has Been Harder Hit than Other Large Latin American Countries
In this article, we argue that the economic and financial crisis that began in Mexico in 2008 has not been primarily caused by the US crisis that began in 2007, as many have argued. As we will show, years of misguided economic policies at the national level have been at the heart of the Mexican crisis. On the one hand, the dominance of foreign banks in the country's financial system and the minimal presence of the public banks have greatly limite…
Understanding Full Investment and the Potential Role of Public Banks
In this paper, we argue that Keynes correctly diagnosed the principles of ‘sound finance' as limiting human progress, but did not map out a viable alternate solution of ‘full investment', and seems to even warn against it. E.F. Schumacher critiqued Keynes's position that until the problem of production is solved, only following ‘the money motive' could lead humanity out of the tunnel of economic need. Now a half century since Schumacher’s critiqu…
Understanding Central Bank Independence
This article asks a simple question that does not have a simple answer: whose interests do independent central banks serve? Employing a Polanyian lens, we explore the many facets of independent central banks, including their history, their institutional nature and functions, and the academic debate surrounding them, in order to reach several conclusions that can hopefully continue to expand the debate regarding the issue
Foreign Banks and Political Sovereignty: The Case of Argentina
This paper analyzes a seldom discussed aspect of Argentina's banking crisis of 2001–2002: the conflict that arose between foreign banks and the national government over the economic policies applied in response to the banking crisis. In particular, the paper will examine the foreign banks' strategy to dollarize the economy and to impede the national government's strategy of pesofication
Populism and (Neo) Liberalism: The Polanyian Perspective Seen from Latin America
This article applies a Polanyian framework to the rise of populism in the countries of the North Atlantic and the fall of the Pink Tide governments in Latin America. By taking a global vantage point from the perspective of Latin America, we argue that haute finance has served as the fulcrum of a single political movement that has washed out governments serving the general will in the South, and washed in governments that do not in the North. As w…
Latin American Structuralism and Current Financialization
In this article, we attempt to update the understanding of the external constraint in Latin America by examining the recent history of the region through the analytical framework of Karl Polanyi in The Great Transformation. As we argue, the greatest force behind today’s external restriction is the financial sector, much as it was a century ago. To reinforce this hypothesis, we provide the reader with relatively new historical material and with ar…
Discount Banking in Mexico
In 2013, the US Department of Justice levied a fine on the multinational bank HSBC for several financial crimes, including the widespread laundering of proceeds from the narcotics trade between Mexico and the United States. Other than establishing the too-big-to-prosecute precedent, the case also provided evidence regarding an academically underappreciated banking practice—money laundering as discount banking. In getting to the heart of this form…
A Critical View of the World Bank’s Climate Change Agenda and Financial Reform in Latin America
Banco del Sur and the Need for Downstream Linkages: The Role of National Publicly Owned Banks
This paper seeks to further the debate surrounding Banco del Sur and the possible roles it can play for both South America in general and for specific member countries. Drawing on lessons from the region's recent history, a case is made for the need to incorporate established national publicly owned banks into Banco del Sur's regional framework if the objectives proposed for the bank are to be fulfilled
Foreign Banks and Political Sovereignty: The Case of Argentina
This paper analyzes a seldom discussed aspect of Argentina's banking crisis of 2001–2002: the conflict that arose between foreign banks and the national government over the economic policies applied in response to the banking crisis. In particular, the paper will examine the foreign banks' strategy to dollarize the economy and to impede the national government's strategy of pesofication
Banco del Sur and the Need for Downstream Linkages: The Role of National Publicly Owned Banks
This paper seeks to further the debate surrounding Banco del Sur and the possible roles it can play for both South America in general and for specific member countries. Drawing on lessons from the region's recent history, a case is made for the need to incorporate established national publicly owned banks into Banco del Sur's regional framework if the objectives proposed for the bank are to be fulfilled
Differing Effects of the Global Financial Crisis: Why Mexico Has Been Harder Hit than Other Large Latin American Countries
In this article, we argue that the economic and financial crisis that began in Mexico in 2008 has not been primarily caused by the US crisis that began in 2007, as many have argued. As we will show, years of misguided economic policies at the national level have been at the heart of the Mexican crisis. On the one hand, the dominance of foreign banks in the country's financial system and the minimal presence of the public banks have greatly limite…
A Critical View of the World Bank’s Climate Change Agenda and Financial Reform in Latin America
The Causes and Consequences of the Misdiagnosis of the Financial Crisis in the United States
Using an analytical framework that divides banking crises into ‘classic’ and ‘secondary’ crises, this article analyzes the banking crisis that broke out in the United States in the summer of 2007 and the response of US authorities. While quite simple in itself, this framework allows for a novel interpretation of the unfolding of the crisis and for evaluating US authorities in the design and implementation of crisis resolution mechanisms. As sugge…
Discount Banking in Mexico
In 2013, the US Department of Justice levied a fine on the multinational bank HSBC for several financial crimes, including the widespread laundering of proceeds from the narcotics trade between Mexico and the United States. Other than establishing the too-big-to-prosecute precedent, the case also provided evidence regarding an academically underappreciated banking practice—money laundering as discount banking. In getting to the heart of this form…
Latin American Structuralism and Current Financialization
In this article, we attempt to update the understanding of the external constraint in Latin America by examining the recent history of the region through the analytical framework of Karl Polanyi in The Great Transformation. As we argue, the greatest force behind today’s external restriction is the financial sector, much as it was a century ago. To reinforce this hypothesis, we provide the reader with relatively new historical material and with ar…
Guest Editor’s Introduction
Public Banking and Post-Keynesian Economic Theory
In this article, we make an appeal for the incorporation of public banking into public discourse regarding the management of the U.S. economy. We argue that the history of post-Keynesian thinking shows a perennial interest in offering solutions to financial and economic problems that often involve the participation of the State. However, in more recent history, discussion has revolved around fiscal and monetary policy, with little consideration g…
Populism and (Neo) Liberalism: The Polanyian Perspective Seen from Latin America
This article applies a Polanyian framework to the rise of populism in the countries of the North Atlantic and the fall of the Pink Tide governments in Latin America. By taking a global vantage point from the perspective of Latin America, we argue that haute finance has served as the fulcrum of a single political movement that has washed out governments serving the general will in the South, and washed in governments that do not in the North. As w…
The Crossroads: The Political Economy of the Pandemic
In this article, we analyze the management of the global coronavirus pandemic with a critical focus on global neoliberalism and from the perspective of Latin America. As we argue, after decades of austerity programs and multiple rounds of macroeconomic crises, many lessons can be gleaned as to how global neoliberalism operates. In order to make sense of the global response to the pandemic and how it has been presented to the public, we not only d…
A Friendly Critique of Minsky's Financial Instability Hypothesis
This article critiques Minsky's Financial Instability Hypothesis, arguing that fraud is a missing element in his theory and the central element in the speculative bubbles that caused “it” to happen twice in the last century in the United States
Understanding Full Investment and the Potential Role of Public Banks
In this paper, we argue that Keynes correctly diagnosed the principles of ‘sound finance' as limiting human progress, but did not map out a viable alternate solution of ‘full investment', and seems to even warn against it. E.F. Schumacher critiqued Keynes's position that until the problem of production is solved, only following ‘the money motive' could lead humanity out of the tunnel of economic need. Now a half century since Schumacher’s critiqu…
A Tribute to Alain Parguez 1940–2022
International audience
Understanding Central Bank Independence
This article asks a simple question that does not have a simple answer: whose interests do independent central banks serve? Employing a Polanyian lens, we explore the many facets of independent central banks, including their history, their institutional nature and functions, and the academic debate surrounding them, in order to reach several conclusions that can hopefully continue to expand the debate regarding the issue
Global Financial Markets, Central Bank Policy, and the Struggle for Full Employment: Celebrating Eugenia Correa’s Achievements in Political Economy – an Introductory Note
In this introductory piece, the authors reminisce on the role played by the late Eugenia Correa in both Mexico and internationally in developing a counter-hegemonic economic thought that matured in her writings and that was sown in the thinking of a whole generation of students over the last three decades
The Legacy of Alain Parguez and his Ongoing Research Agenda: Capitalism, the Financial Circuit and the State
This article traces the pedigree of ideas and the personal and institutional connections that led us to collaborate with Alain Parguez, whose academic legacy we celebrate here by exploring the roots, the current relevance, and the future of his research agenda
Central Bank Digital Currencies—An Introductory Note
The rapid expansion of digital currencies—including cryptocurrencies, stable coins and central bank digital currencies (CBDCs)—has reshaped the monetary landscape. As is usual, moments of technological leaps are accompanied by debate over larger and smaller considerations, from how the new technology will effect the course of human development, to what the new thing should be called and how it should be classified within the realm of already exis…
Economics (16 works) · Political science (14 works) · Economic Theory and Policy (11 works) · Law (8 works) · Law (8 works) · Keynesian economics (7 works) · Financial system (6 works) · Latin Americans (5 works) · Political economy (5 works) · Financial crisis (4 works)