Mmmmm, I tend to agree.  When I was young we had the "spanking stick" that hung in the broom closet.  Was used once, when I painted the dog orange, but the idea that it was in the background was an effective deterrent.

I don't generally agree with physical punishment, but a quick slap on the wrists of a toddler reaching for a hot pot or something like that is appropriate when they don't have the verbal/cognitive abilities to understand otherwise.  Deliberate infliction of pain on older children is just wrong.