The real crisis? We stopped being wise

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.

Schwartz highlighted the following points:

Practical Wisdom: Moral will + Moral skill 

A wise person:

1. knows when and how to make “the exception to every rule”
2. knows when and how to improvise
3. knows how to use these moral skills in pursuit of the right aims
4. is made and not born.

Watch this video from TED and ponder if what he says applies to Singapore too.