Practical wisdom is an ancient, Aristotelian moral virtue, and a fine one at that. Below, I offer no technical or even an accurate Aristotelian definition of what it means.
For my purposes this morning, to live as a practically wise person is to handle things well, in one's private life and out there in the world. It is closely related to Peterson's idea about competence allowing people to climb the hierarchy of life.
If a person were to maverize, and live according to a moral code, having adopted and attempted, to some degree, to bring into reality said adopted idealistic vision for the world--all the while loaded with common sense, street-smarts and practically skilled in surviving and navigating one's way through the tricky, shifting reality of the world out there--that person would understand and live a life of practical wisdom.
She would fail plenty, but her rich experience would soon make her more adept at managing to meet her goals, while surviving or thriving in that world out there.
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