By the end of the twentieth century, the forms of economic information had multiplied. The trust problem that the early credit-rating agencies such as R. G. Dun had tried to address – how could creditors trust debtors? – had a new solution: the Credit Bureau, established in 1994. Those who languished on its infamous Black List were excluded from the credit economy and denied new loans. Debtors fared poorly within the new economic order, as it was more common to discipline delinquent debtors than to police predatory creditors. The power dynamics had been transformed, and many debtors faced dispossession through paperwork. Chapter 5 examines how people understood their debt troubles at the turn of the millennium while showing that the debtor–creditor relationship had become one of individual borrowers and institutional lenders. It examines what happened to people who did not pay their debts and analyses how citizens explained their situations, attributed blame, and asked for help. Mexican citizens with unpaid debt in the early twenty-first century were often left feeling vulnerable and isolated amidst the ups and downs of the global economy.

This chapter examines the role of imagination in enabling economic actors to make sense of the world and decide how to act and the part played by metaphorical thinking and analytical imagination within the discipline of economics. It starts from the assumption that modern capitalism is a quintessentially creative and imaginative system, characterized by constant novelty and radical uncertainty. The authors argue that economic behavior is therefore necessarily guided by working fictions and, in particular, by fictional expectations that combine individual imaginaries and social narratives with calculation. Building on insights from literary theory, the chapter examines the structuring and performative role of narratives and models and concludes that market power rests with those able to make their narratives and imaginaries count. Championing a new form of narrative economics, the authors propose that economists should employ discourse analysis to read the contingent interpretations that economic actors use to navigate uncertain futures.