"Knowledge begins with respect for the Lord, but fools hate wisdom and discipline." (NCV)
What is God saying?
If people want to be wise, they should respect God and His laws, because only foolish people reject the wisdom and discipline that He provides.
What is God saying to us today?
As God's followers, we need to focus on the big picture. Not just regarding the scope of eternity, but our earthly lives as well. When we only focus on what is happening in the moment, it is much easier to take the easy path. I'm hungry now, so I'll just eat some unhealthy junk food. I'm bored now, so I'll just read/watch/listen to some degrading entertainment. I'm broke now, so I'll just do XYZ for some money. I'm tired now, so I'll skip getting exercise. I'm lonely now, so I'll just find someone to mess around with. It seems so much easier to be undisciplined when we just get caught up in the moment, but these series of undisciplined choices can add up to make us foolish. Following God means that we choose to forego some momentary pleasures so that such discipline will lead to better lives now and eternally.
What is God inviting us to do?
Do you delight in God and His laws? He invites us to be obedient, because He wants the best for us and knows that it would be foolish for us to live any other way.