I believe if employed correctly the punishment can be even more effective than simply a time out or a scolding, because it gives them a direct connection between pain and their behavior. When I was young my father would punish me with the belt if the misdeed called for it, and usually apologized sometime later while explaining his actions and why he did what he did. If he had simply beat me plenty and often for my behavior I would probably hold some resentment for him by now as I would view him as an enemy and a hindrance to achieving my desires. But he would carefully explain that he wished the best for me in genuine and apologetic manner and I was able to recognize that he meant it and also acquire some self awareness of my bratty ways. I dunno something like that.