Knowledge@wharton

Swarthmore professor Barry Schwartz says rules and incentives are an ”insurance policy against disaster but [they don’t] produce excellence.” In his recent book Practical Wisdom: The Right Way to Do the Right Thing Schwartz and co-author Kenneth Sharpe also a Swarthmore professor say that what is needed is not more bureaucracy. Instead society needs the Aristotelian ideal that trumps all others -- practical wisdom. Knowledge at Wharton recently discussed with Schwartz why individuals fail to do the right thing what practical wisdom looks like in practice and what organizations can do to regain people’s trust. (Video with transcript) See acast.com/privacy for privacy and opt-out information.