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How can wisdom be gained?

"A wise person is made not born".
Is this true? Why?
If it is, how is wisdom accumulated? And why is it 'practical' ?

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    Oct 12 2012: Wisdom can be obtained over time, of course, and make up for our general diminishing of reflexes and intelectual ability. In fact, I believe that's what keeps us going as we get older, as what we have learned over the years serves the useful purpose of making us more knowledgeable and capable in different fields. I guess that's the only way to contend with the younger generations.

    Practice makes perfect.

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