Praise or punishment -- which is more effective in educating children?

I have clear opinion on this issue. Apparently, it's no doubt that praise is more effective than punishment. To support this idea, there are two reasons. First, successful experience intrigues their own interest. In my case, I'm very delighted to have successful experience when natural English expression or proverb I learned are understood by native English speaker. For example, "You scratch myback, I'll scratch yours", "Grass is always green on the other side ofthe fence" and so on. The more I have such a successful experience, the more I'd like to learn. Second, punishment is not necessary in essence. We have verbal language. We can use it before imposing punishment. When I chide my subordinate staff, I tell just the fact. I try to make them aware of their wrongdoing by themselves. I think we can apply to children. In conclusion, there is no other way to educate children than praising.