Not really.

However, kids these days have no boundaries and can do whatever they want, whenever they want, day or night.

I think parents should enforce boundaries, with some level of force. Beating your children up is the wrong way to do that, but locking them in their bedroom would drill the message home equally.

We have to be conscious of safety, but they're safer locked in their bedroom to finish a tantrum than smoking joints in a back alley.