Not wholly. If you have a strong positive relationship with your children, an unambiguous show of displeasure can be a very strong corrective force. A gentle slap on on wrist is a one to show this and it's not damaging especially if followed by something affirmative once he or she has corrected the mistake.

I've heard of people from previous generations who've tied their kids and belted them. I find it hard to think of a way that can have a positive effect.