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Psychologists have gathered data on commonly held beliefs or folk theories about wisdom.These analyses indicate that although "there is an overlap of the implicit theory of wisdom with intelligence, perceptiveness, spirituality and shrewdness, it is evident that wisdom is an expertise in dealing with difficult questions of life and adaptation to the complex requirements." defined "Wisdom is the ability to deal with the contradictions of a specific situation and to assess the consequences of an action for themselves and for others.It is achieved when in a concrete situation, a balance between intrapersonal, inter- personal and institutional interests can be prepared".
Many of these same factors also influence how a given community decides whether wisdom is present or not.The Oxford English Dictionary defines wisdom as "Capacity of judging rightly in matters relating to life and conduct; soundness of judgement in the choice of means and ends; sometimes, less strictly, sound sense, esp. Athena is said to have sprung from the head of Zeus. of a high or abstruse kind); enlightenment, learning, erudition." The ancient Greeks considered wisdom to be an important virtue, personified as the goddesses Metis and Athena.He teaches that new knowledge and technological know-how increase our power to act which, without wisdom, may cause human suffering and death as well as human benefit.
Wisdom is the application of knowledge to attain a positive goal by receiving instruction in governing oneself.
This permeates Plato's dialogues, especially The Republic, in which the leaders of his proposed utopia are to be philosopher kings, rulers who understand the Form of the Good and possess the courage to act accordingly.