Practical Wisdom

Barry Schwartz makes a passionate call for "practical wisdom" as an antidote to a society gone mad with bureaucracy. He argues powerfully that rules often fail us, incentives often backfire, and practical, everyday wisdom will help rebuild our world.

- From the Net

I think "practical wisdom" is different from "conventional wisdom" and the two should not be mixed. The former is "improvisation-based wisdom" whereas the latter is "internalization-based wisdom".