What would happen if children ruled the world?

If children ruled the world, the natural response would be that kids would get to do whatever they want and would eat candy and ice cream all the time and stay up all night and go out and play whenever they wanted. They would not go to school and would just have fun all the time. Thinking about this sort of thing realistically however, children ruling the world would not end up very well. Children are exceptionally smart, but I feel that they would not be able to handle adult things such as business, work, and everything else that an adult has to do. Children do not have to capacity to accomplish things as adults do. Also, no one would be there to guide the children and help them to make the right decisions. Children need the guidance of an adult figure and I feel that a child or children would not be able to rule the world sufficiently.