|Main Entry:||conventional wisdom|
|Part of Speech:||n|
|Definition:||the ideas, opinions, or understanding that are considered to be generally accepted by the public|
|Example:||See how many of these sayings you can complete to test your conventional wisdom.|
|a children's mummer's parade, as on the Fourth of July, with prizes for the best costumes.|
|a chattering or flighty, light-headed person.|
A widely held belief on which most people act. For example, According to conventional wisdom, an incumbent nearly always wins more votes than a new candidate. This term was invented by John Kenneth Galbraith, who used it in The Affluent Society (1958) to describe economic ideas that are familiar, predictable, and therefore accepted by the general public. Today it is used in any context where public opinion has considerable influence on the course of events.