I went way over to the other side of the child-rearing spectrum.....no punishment or discipline at all. I was so afraid of becoming like my mother & her husband, that I did the exact opposite. That isn't good either. Now that they are teens, they do not respect me at all.
Some children repeat the cycle, many more do not. Like has already been stated, more often adults who were abused as children err on the opposite side and become hyper-permissive. This is in essence another form of abuse but more time released in its results. The product of hyper-permissive parents is often spoiled, entitled children. The world does not deal kindly with entitled people.