Dunning-Kruger Effect

I've heard of the Peter Principle, but this effect,  named after two Cornell University researchers, hypothesizes that:

1. Incompetent individuals tend to overestimate their own level of skill.
2. Incompetent individuals fail to recognize genuine skill in others.
3. Incompetent individuals fail to recognize the extremity of their inadequacy.
4. If they can be trained to substantially improve their own skill level, these individuals can recognize and acknowledge their own previous lack of skill.

At last I know the name for what ails half the people I meet.