It really does depend on the subject of matter because there are some things that teenagers are wiser in than their parents and there are other topics that parents know more than the teenagers. I do agree that teenagers THINK that they are wiser but not always. Teenagers need to realize that parents have lived longer than them and know much more than them in several topics. But overall, parents know more than teenagers and the knowledge that teenagers have comes from parents and other adults :)
yeah this is true that the teenagers are now a days a updated all the time because of the internet and the technology they are using all the time. their parents also don't be that much aware of the worldly situations but the youth are getting addicted to more and more technology and because of this they are getting more information about the world wise situations and topics. the youth now a days are going and doing all the things he/she like and that strike their minds. the idea of technology is becoming stronger every where in our world and every one tries to het addicted to the technology and even their broad mind of thinking. the technology is all most now-a-days seen every where because of the globalization and its effects on all the human beings.
hope so my answer is useful and mark as best if possible ...!!