We formulate a comprehensive hydrodynamic theory of two-dimensional liquid crystals with generic p-fold rotational symmetry, also known as p-atics, of which nematics (p = 2) and hexatics (p = 6) are the two best known examples. Previous hydrodynamic theories of p-atics are characterized by continuous O(2) rotational symmetry, which is higher than the discrete rotational symmetry of p-atic phases. By contrast, here we demonstrate that the discrete rotational symmetry allows the inclusion of additional terms in the hydrodynamic equations, which, in turn, lead to novel phenomena, such as the possibility of flow alignment at high shear rates, even for p > 2. Furthermore, we show that any finite imposed shear will induce long-ranged orientational order in any p-atic liquid crystal, in contrast to the quasi-long-ranged order that occurs in the absence of shear. The induced order parameter scales like a nonuniversal power of the applied shear rate at small shear rates.