“Very central to Aristotle was the notion that to do the right thing, and ultimately to be happy, required that you be a person with the right character — courage, honesty, perseverance, and so on….
The problem was that having these virtues wasn’t enough, because, how courageous should you be and when should you be courageous? The circumstances we face from day to day are varied and multiple, so you can’t be formulaic about it. You need to use your judgment. And the virtue that is the judgment virtue is what he called “practical wisdom.” It’s knowing when and how to display the other virtues. It’s knowing how to choose when two virtues conflict.” – Interview with Barry Schwartz