I think there's something to be said about shared cultural experiences, and so reading some older books is probably a good thing.

To clarify what I mean though: that means that we should be reading stuff that was written/popular when our grandparents were our age. Going back 200+ years should be saved for a history class cause that's the real value in reading that material. In my opinion, Great Gatsby should be about the oldest book kids need to be reading for a literature class these days, and even that's pushing it.