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The author presents a balance theory of wisdom. First, some alternative approaches to wisdom are reviewed, including philosophical, implicit theoretical, and explicit theoretical ones. Second, the concept of tacit knowledge and its role in wisdom are discussed. Third, a balance theory of wisdom is presented, according to which wisdom is defined as the application of tacit knowledge as mediated by values toward the achievement of a common good through a balance among multiple (a) intrapersonal, (b) interpersonal, and (c) extrapersonal interests in order to achieve a balance among (a) adaptation to existing environments, (b) shaping of existing environments, and (c) selection of new environments. This theory is compared to some other theories, and wisdom as a construct is compared to some other constructs. Measurement issues are also discussed. It is concluded that it might be worthwhile for American society to emphasize development of wisdom in schooling more than it has in the past.
Robert J. Sternberg (Tue,) studied this question.