about 30 years ago an obsession swept the parenting and education world to somehow make things "fair" when there is no such thing. As a result a virtual religion has formed around the concept of "protecting children" from consequences. True freedom is without, really an absence, of such protections because they limit what an individual CAN do by allowing them to only do what they SHOULD do. Our current society is a direct, and predictable, result of that philosophy. Sadly we have not yet hit the bottom of this particular well.
Yes it is the freedom to fail, to add to what you said the same freedom to fail will lead to the inevitability of loss, but also the beauty of renewal when you rise again.
I believe parents should teach children to look into this beauty but also to follow the ideas of the video I am about to link to.
(Quick Summary) Parents you do not get to design your children! You can only be a Shepherd, and you can't be an Engineer, when you try to be an Engineer you will fail and be counterproductive.