A thoughtful, effective consequence for misbehavior that parents embrace and students truly learn from.
I've used this paragraph for many years, and it has worked very well. Parents love it, as it is thoughtful yet appropriately demanding. I've rarely had students need to write one more than once or twice per year. While it is old-fashioned in the sense of being a written consequence that must be copied, the content is not repetitive nor demeaning. It simply forces students to think about the big picture and recognize how fortunate they are for receiving an education.