We frequently hear terms like “common sense” and “street smarts.” But what about “practical wisdom”? A concept first identified by Aristotle, practical wisdom is something Swarthmore professors Barry Schwartz and Kenneth Sharpe believe needs a comeback. They insist that it could help our institutions and communities and our nation. But what is practical wisdom? And how might it help something like Obama’s presidency?

Researchers at the University of Michigan looked at whether people really get wiser with age. We'll be talking about whether you think this holds true in your life and we want your input. Do you think you're wiser now than you were when you were young? And what is wisdom anyway?