Recently paradoxical thinking has trickled from science into business through buzz phrases like creative destruction, controlled chaos, coopetition, getting outside the box, fuzzy logic, breaking the frame, and the Zen of business.

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"Clinton contained Saddam within his box for eight years, but within his box Saddam is probably trying to build weapons of mass destruction, " he said.

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But, instead of bad credit risks and overvaluations, the industry is flirting with a black box the contents of which include a legal doctrine bent on the destruction of the very civilization which has created modern debt-driven finance.

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