My mom had a couple of different methods of disciplining -- some I agree with, and some I don't. The first was used when I was fairly little, if I started throwing fits she'd make me sit with my nose in the corner until I calmed down. The only problem was that I always turned it into a battle of wills -- I knew she could hear me, and would continue screaming as long as possible...even to the extent of having a concerned neighbor call DFS after a couple of hours. That said, I use a similar method with my son, except that he goes to his bedroom without his favored toys and sits on his bed until he's calm...he knows I can't hear him very well...and then he has to come downstairs and sit calmly while we discuss what he did wrong (he's 5 now, been doing that since he was 3).
The other thing my mom used was spankings...as I got older, I only got stronger-willed, and quickly discovered that I had a lot more time to waste than she did in any given day. While spankings may have a place in some discipline, I know they didn't work for me, and certainly don't work for my son (in my ex-husband's house). The only time I ever use spankings is if my son acts out violently -- in the real world, violence will be responded to with violence -- but for everything else, we want him to know that calm and reasonable is the way to handle problems, not lashing out.