Wisdom and Economic Theory do not know each other. The definition of Wisdom is the ability to mentally integrate as much relevant data as is available and then act in the most practical and most optimally ethical way….at the same time.

Both Equilibrium and Disequilibrium theorists do not incorporate actual Wisdom into their thinking and hence they are either confused about and/or unable to formulate Wise policies. I have observed and commented upon this on many of the Internet’s most visited blogs since before the Great Financial Crisis in late 2007-early 2008 and have been routinely either reviled or ignored…..even when I have largely or entirely agreed with various theorists. This has lead me to the conclusion that the missing ingredient in economic theory and in the minds of theorists is indeed Wisdom itself. In other words the fragmented mereness of economic theory/theorists, and their lack of awareness of what Wisdom actually is and how it can expand understanding and bring a higher completeness to theory…is missing. Hence Wisdomics, the integration of economic theory and Wisdom.