That is an awfully big call to make. I would say instead that, if children are raised properly from an early age, then spanking should not only not be the best option, but should be completely uneccesary.
However, if children reach a certain age and have not been properly raised (ie, no understanding of responsibilty or cause and effect) then spanking, administered correctly and sparingly, can be an effective teaching tool.
Not in anger or frustration, but as a reasoned punishment. Ie: If you keep doing that you'll get a smack. Let them know that if they keep on doing something, they will be punished. Give them a chance to stop doing it, and if they don't, then they get a smack.