PRACTICAL WISDOM (phronesis) is a key objective in my work as a futurist. Here are some explanations on what it means:
“The Greek philosopher Plato believed that wisdom was theoretical or abstract. Aristotle, his pupil, disagreed and said that wisdom was available to all, a kind of moral compass that guides our thinking and behavior… To champion human happiness, to flourish, Aristotle believed that wisdom was not for theoretical debate but for practical application. Barry Schwartz and Kenneth Sharpe, authors of Practical Wisdom: The Right Way to Do the Right Thing, distilled Aristotle’s ideas on virtues and practical wisdom and how it applies to our lives” Read more here
“These sort of quandaries don’t have pat, one-size-fits-all answers. Good rules might be useful as guides as we try to manage these multiple aims, but they will never be subtle enough and nuanced enough to apply in every situation. Aristotle recognized that balancing acts like these beg for wisdom, and that abstract or ethereal wisdom would not do. Wisdom has to be practical, because the issues we face are embedded in our everyday work” More here