In my 2010 Annual Lecture this evening I endeavoured to show how Macquarie University plans to set our students on the road to practical wisdom. What follows is an extract from my talk, but you can read the lecture in full here. I am interested in your views and encourage you to post them here on this blog

Confucius, the great Chinese philosopher, said that there are three ways to gain wisdom—by reflection, by imitation, and by experience, which he described as the bitterest way to learn.

As the classical philosophers and the founders of the world’s great religions knew, practical wisdom is more than just book learning.

It also requires knowing how to act on this knowledge to achieve a good outcome.

Knowing how to act comes from a combination of book knowledge, role models and experience.

Gu Yanwu, an ancient Chinese scholar, put it this way. To become wise, you must read 10000 books and walk 10000 miles.

In other words, book learning is necessary but not sufficient. If we want to become wise then we must get out of the library and walk the talk.

Unfortunately, modern universities have forgotten this advice. We once were about character building but now we are about money.

We live in the age of money. And money is what the modern university is all about.

Among politicians, a kind of cargo cult has developed around universities. Want to rev up your economy?

Build some impressive looking buildings, preferably out of sandstone, hire a few caps and gowns, print diplomas on fake parchment and then sit back and wait for the dollars to roll in.

If you cannot afford this, then simply rename some colleges and technical schools universities.

Not surprisingly, in the age of money, university courses are increasingly vocational.

These courses are designed to train graduates for their first job after leaving university: not only law, accounting and pharmacy, but also golf course management, contemporary circus and physical performance, hairdressing-salon management, equestrian psychology and fashion-and-lifestyle products.

Yes, these are all courses offered by modern universities.

Politicians and universities often refer to skill shortages.

Apparently we need more circus performers and salon managers.

For some reason, no one seems to worry about a shortage of philosophers, historians and ethicists.

This vocational trend is unlikely to be reversed; people have got to work and students are understandably focused on building a career.

But successful careers depend on more than technical skills; they also depend on the practical application of wisdom.

Unfortunately, modern universities are not in the wisdom business.

We educate students but we don’t even try to make them wise.

- Steven Schwartz