While the Law is general and binding, wisdom begins in the interpretation of the Law, applying it to personal and variable situations, sensing the potential in the situation as well as the actual.
Wisdom looks to the past for continuity, prudence, and stability.
The favored forms of wisdom literature are the proverb, which is well-represented in the Old Testament, and the fable, which is not, but appears in the parables of Jesus. Frye then starts an encomium on the program of continuous mental energy presented in Ecclesiastes. I am not sure what this wisdom has to do with literary criticism, but it does show something of what Frye considers important. The secret of wisdom is detachment without withdrawal. As soon as we renounce the expectation of reward, in however refined a guise, for virtue or wisdom, we relax and our real energies begin to flow into the soul.