Now the question is, smart on paper (those that are usually idiots in practice),
Or smart in the field and experienced enough to know what will/won't actually work?
Book smarts doesn't often translate well into reality in my experience.
A book can teach many things, but it can't actually teach how to get it done, regardless of what many would love to believe.
Mostly since the book does not evolve like the work place environment. It stagnates and its information becomes outdated before you even open the pages.
Our business is 125 years old and in a nuts and bolts field, having early established a good reputation. Our designated smart people, newly hired, always spend a lot of time trying to out-maneuver each other. I have been here 35 years, and in talking to people here even longer, apparently these things come in waves. The incoming *geniuses* do their magic, it turns sour, they get canned, and then we recuperate and heal until the next group of wizards inflict themselves on us.
These things go in 5 to 7 year cycles for serious disruptions, 10 to 12 year cycles for near disastrous situations. Lately, the wonder boys and girls have meetings with lots of yellow sticky notes, do webinars, and endlessly do management reorgs. They hire smarmy consultants, all grin, handshakes, insipid handouts and slideshows. Most distressing is that former employees who left in theatrical disgust, shaking the dust from their sandals, have returned to big promotions and raises. They failed in subsequent endeavors and decided they would rather be big fish in a small pond.
To a certain extent we can absorb this nonsense, but we are shrinking slowly due to global competition, and our patents are expiring. We need workers to actually do the work, not glam guys who just want to supervise, criticize, give meetings, innovate, collect commissions, and get private offices in executive row. Not every company can be Apple, Google, or 3M.