What does wisdom do?

I have been reflecting on wisdom a lot recently. I think there has been an over-emphasis, in Western cultures, on knowledge and not enough on wisdom. Wisdom is seen as a good thing to have and yet I'm not sure we really think about why. What does wisdom do, exactly?

I would say that wisdom gives us foresight to understand the consequences of our choices and actions - not all consequences perhaps - but enough to be able to make thoughtful, responsible, - wise decisions. This thinking ahead helps us avoid having to live out the consequences of haste or ignorance which may cause us and others a lot of suffering. Wisdom understands cause and consequence. It understands that though we cannot avoid all suffering and may have limited control over, and impact on, what happens out there in the world, we are nevertheless responsible for our choices and actions in this world. Wisdom is discerning - it can see the wood from the trees, and it seeks not to blame but to understand. It is knowing. It is peaceful.

Human beings create the world we live in. Wisdom can not only make a better life but also a better world. Perhaps we owe it to ourselves, our fellow humans and to all other living beings on this planet to cultivate more wisdom.