Intuition, informed by experience and empathy, plays a key role in practical wisdom. It’s the inner sense that guides us toward the right choice, even when logic alone falls short. 	“Intuition is wisdom’s silent partner.”

Role of Intuition in Decision-making

Practical wisdom combines moral skill (the ability to make good decisions) with moral will (the desire to do so). Both are necessary to navigate the complexities of ethical dilemmas. 	“Moral skill and moral will are the twin pillars of practical wisdom.”

Moral Skill And Moral Will

Practical wisdom is the ability to make the right decisions in complex, real-life situations. It’s about knowing when and how to apply general principles to specific circumstances. 	“Practical wisdom is the essential tool for moral competence.”

The Nature of Practical Wisdom

Modern institutions often prioritize efficiency over wisdom, leading to rigid rules and systems that can stifle moral judgment. True wisdom requires the flexibility to adapt to individual circumstances. 	“Institutions can be enemies of wisdom when they value rules over humanity.”

Challenges of Modern Instituions

1.	The Nature of Practical Wisdom	2.	The Role of Experience	3.	The Balance of Rules and Discretion	4.	The Importance of Empathy	5.	The Challenges of Modern Institutions	6.	The Concept of Moral Skill and Moral Will	7.	The Danger of Over-Reliance on Rules	8.	The Role of Intuition in Decision-Making	9.	The Impact of Context on Moral Judgments	10.	The Path to Cultivating Wisdom

Topics That Will Add More To Your Wisdom Today

Experience shapes wisdom by providing the context needed to understand how to apply knowledge in varied situations. It’s through experience that one learns the nuances of decision-making. 	“Experience is the teacher that wisdom needs.”

The Role of Experience

Nobel Prize–winning psychologist Daniel Kahneman and his colleagues have shown that what we remember about the pleasurable quality of our past experiences is almost entirely determined by two things: how the experiences felt when they were at their peak (best or worst), and how they felt when they ended. This “peak-end” rule of Kahneman’s is what we use to summarize the experience, and then we rely on that summary later to remind ourselves of how the experience felt.

Empathy is crucial for practical wisdom because it allows one to understand the needs and feelings of others. Wise decisions are often those that take into account the perspectives of all involved. 	“Empathy turns knowledge into understanding, and understanding into wisdom.”

The Importance of Empathy

While rules provide a framework, practical wisdom involves knowing when to bend or even break them. It’s about using discretion to do what’s right rather than just what’s prescribed. 	“Rules are useful, but wisdom is knowing when to go beyond them.”

Balance of Rules & Discretion

When asked about what they regret most in the last six months, people tend to identify actions that didn’t meet expectations. But when asked about what they regret most when they look back on their lives as a whole, people tend to identify failures to act.

Over-reliance on rules can lead to a lack of personal responsibility and a failure to consider the unique aspects of each situation. Wisdom requires stepping beyond strict rules when necessary. 	“Too many rules can make us forget the importance of human judgment.”

Danger of Over-reliance on Rules

Focus on what makes you happy, and do what gives your life meaning.

Context matters in every decision. Practical wisdom involves understanding the broader context of a situation and how it affects the moral dimensions of the choices at hand. 	“Wisdom is context-sensitive; what’s right depends on the situation.”

Impact of Context on Moral Judgments

Wisdom can be cultivated through practice, reflection, and a commitment to learning from experience. It’s a lifelong journey that requires ongoing effort and self-awareness. 	“Wisdom is not a destination but a journey, continually shaped by life’s experiences.”

Path to Cultivating Wisdom

6.	Develop Moral Skill and Will: Combine the ability and desire to do good.	7.	Avoid Rule Dependence: Over-reliance on rules can hinder moral judgment.	8.	Trust Your Intuition: Let experience and empathy guide your decisions.	9.	Consider Context: Tailor your actions to the unique aspects of each situation.	10.	Commit to Growth: Continuously cultivate wisdom through practice and reflection.

1.	Understand Practical Wisdom: It’s about applying principles in real-life situations.	2.	Value Experience: Learn from life to refine your decision-making.	3.	Balance Rules and Discretion: Use judgment to know when to go beyond the rules.	4.	Cultivate Empathy: Understand others to make wise decisions.	5.	Challenge Rigid Systems: Flexibility is key to wisdom in institutional settings.

Unlock the secret to wise decisions by blending experience, empathy, and moral judgment.

A reasoned and urgent call to embrace and protect the essential human quality that has been drummed out of our lives: wisdom. In their provocative new book, Barry Schwartz and Kenneth Sharpe explore the insights essential to leading satisfying lives. Encouraging individuals to focus on their own personal intelligence and integrity rather than simply navigating the rules and incentives established by others, Practical Wisdom outlines how to identify and cultivate our own innate wisdom in our daily lives.

CONCLUSION II