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In video games, the box of the CD usually has at the back some information to sell you the game, the requirements (if the game is for PC) and the rating of the game. Too many a time I have heard "No one reads those" "Their not important" and worse of all "What ratings?" (yes I have actually heard that before). Well this is to tell you that YES they ARE important, there is a rating for a reason. There have been studies that violent video games do in fact affect people, no matter what their age. Those ratings are the result of those studies, so buying Skyrim of CoD for a five year old is a bad idea, and in my opinion bad parenting. This isn't to change everyone's way of thinking, it's so that next time you're about to buy a game 14+ for you eight year old nephew, just stop and think "Is this right?"
In movies, the ratings are also just as important, for a movie like The Hangover, which is 18+, it's not the best idea to bring a 10 year old because all that's going to make is "DUDE drinking + roofies = AWESOME!" (by the way the first one is perfect the second is a copy, not worth watching). This brings up the second point, the warnings. When it says vulgar language, sexual content, extreme violence, etc; not the best idea to ignore that. Again, those are there for a reason, to make you think if it is appropriate for younglings.
Over all, watch out for the media, sure it's great, but look out for the subliminal messages of violence and sexuality. Also, make sure things are age appropriate for the young ones. When you start thinking "I wish I could nuke him/sword him/or quick scope (or her)" It's best to take a break from those games for a bit, loose that influence.