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Practical wisdom — phronesis — is not the accumulation of knowledge or the mastery of rules. It is the ability to perceive what a situation demands and respond appropriately. Context sensitivity is not a component of wisdom. It is the mechanism through which wisdom operates.
Wisdom about emotions comes from combining emotional knowledge with lived experience.
Wise emotional engagement means feeling the right emotion at the right time.
Lived experience teaches you more about your values than abstract contemplation.