Chronological advancement advantage only presupposes possession of greater wisdom.
However, members of a particular generation have a great deal of things to learn from members of another generation--from the older to the younger and, in turn, from the younger to the older.
Listening and Understanding, employing genuine Love and Compassion are the basic keys to achieving Harmonious and Peaceful coexistence.
It is true that the perennial philosophies are matters of broad discussion, which great minds who have existed longer in the present consciousness usually bear more profound credibility to give insight on.
Keep in mind, however, that everything is dynamic and subject to the laws of evolution--most especially when dealing with the subject of knowledge.
In the end, a give-and-take process of insight exchange among various generations will always work best. No one holds the absolute truth. Likewise, no one is inherently and absolutely incorrect, either.