I formulate the Zermelo-Russell paradox for naive set theory. A sketch is given of Zermelo’s solution to the paradox: the cumulative type structure. A careful analysis of the set formation process shows a missing component in this solution: the necessity of an assumed imaginary jump out of an infinite universe. Thus a set is formed by a suitable combination of concrete and imaginary operations all of which can be made or assumed by a Turing machine. Some consequences are drawn from (...) this improved analysis of the concept of set, for the theory of sets and for the philosophy and foundations of mathematics. (shrink)