The aim of this chapter is to assess the significance of fuzzy logic based on its developments and its impact on mathematics and other areas of human affairs over its fifty-year history. For this purpose, the well-established concepts of a paradigm and a paradigm shift in science as well as their counterparts in mathematics and other areas of human affairs are employed as useful metaphors. Authors’ views regarding future prospects of fuzzy logic are also discussed. The prospects for a wider awareness of fuzzy logic depend on the development of specialist forums for discussion of its application, as well as on the availability of general-purpose textbooks. Fuzzy logic offers contributions to thinking about a large number of disciplines, and their acceptance will depend on how well the claims made for it materialize.