Phronesis is a term used by Aristotle in Nicomachean ethics to describe "practical wisdom" or the ability to act on what one knows are good for man.

Most people live their lives by hedonism or at least don't think too far-sightedly. A lot of people set good goals for their lives and accomplish them perfectly, yet on the verge of their fifties they feel they haven't accomplished the important things. The problem often isn't in the means used to accomplish the ends or the actual accomplishments, usually the ends have been pretty successfully fulfilled. Most often the problem is, people haven't been able to estimate what their chosen preferences would be when they are old. Most people feel nostalgic and have the idea they have wasted their lives when they are old.

Phronesis has a lot to do with choosing the ends one should accomplish. It is practical wisdom to know what goals one should seek.

See also: Mihaly Csikszentmihaly