In this strophe (verses 10-12) the speaker is either the psalmist or the king; it is impossible to determine which one is intended. Good News Translation takes the psalmist to be the speaker; Revised Standard Version could be understood to have the psalmist or God as the speaker.

Be wise in line a is general, while line b focuses more specifically with be warned. Good News Translation reverses the order: “listen to this warning … learn this lesson.” New American Bible has “give heed … take warning”; An American Translation “be cautious … take warning”; New Jerusalem Bible “come to your senses … learn your lesson.”

This warning is given because of Yahweh’s promise to his chosen king that he would rule over the whole world. So the kings and the rulers of the earth are to obey the order that is given in the following verses.

The command be wise is difficult in many languages to express as an order. The expression may be recast; for example, “act in a wise way,” or “act like a wise person.” Be wise may also be rendered “show that you understand.” Verse 10 may be rendered, for example, “You kings, show you understand these words; you rulers, pay attention to this warning”; or “You kings, act like wise men; you rulers, listen to this warning.”

Quoted with permission from Bratcher, Robert G. and Reyburn, William D. A Handbook on the Book of Psalms. (UBS Helps for Translators). New York: UBS, 1991. For this and other handbooks for translators see here .