Young people appreciated the wisdom of their parents and grandparents, knowing their lessons were learned through experience.

That’s true! However, as you mentioned in advanced countries with advance technology most parents are just not that well experienced. Usually children happen to educate their parents. Or parents can even be motivated by their children as you mentioned. Let the children have a bit of a freedom and what is very important for parents is to listen to their children. Find out what motivates them.
Great point about “how to raise today’s children!”.