As usual, I will insist that we have a good idea of what we mean by a word or a phrase before we start talking about it.
“Conventional” of course comes from “convene”. What does “convene” mean? Simply this: “con” - together plus “vene” - come. So “conventional” means just “the state of having come together”, in other words, “we’re together on this…”, in a word that we have from the SELF - Southern European Language Fanily, i.e. Latin/Greek variations.
“Wisdom” on the other hand is from the NELF (you got it, Northern European etc.), from “wise” plus “doom”. “Wise” implies good judgement and knowledge (”wit” doesn’t always mean “funny” - it also means ability to think well, and clearly… see “nitwit” for example). “Doom” doesn’t necessarily imply something bad, although that’s how we use it for the most part. What it really means is “state of being”, as in “freedom”.
So, ulitmately what is meant by “conventional wisdom” is a state of good judgement with which we all agree.
The problem with “conventional wisdom” is that apparently it either doesn’t exist or it’s simply wrong. As someone (actually many someones) said, “If ‘everyone‘ knows it, it’s almost certainly incorrect.
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