Why do C# and VB have Generics? What benefit do they provide? Generics, FTW

//Old and busted
public abstract class Enum
{
  public static object Parse(Type enumType, string value);
}
//To call it:
MyEnum x = (MyEnum) Enum.Parse(typeof(MyEnum), someString);

//New and groovy
public abstract class Enum
{
  public static T Parse<T>(string value);
}

//To call it:
MyEnum x = Enum.Parse<MyEnum>(someString);