Discipline can be a sore subject for many parents. Some parents struggle with, others do it very well and others still don't discipline at all. However the subject of discipline seems to be much straight forward with older children than toddlers and babies, as older children understand the concept. However for toddlers, is it wise to discipline with their limited ability to understand?
The short answer is that no, it isn't a good idea to discipline a child so young. Discipline doesn't work and all it does if give a child a sense of fear and confusion. If you tell a toddler to stop doing something, they seldom listen. If you try to tell them off or give them a time out they get confused and they don't learn from the experience - not in the way you want them to anyway. The concept of discipline doesn't work with them. A 2 year old will keep touching things you don't want to because they have a natural curiosity. It isn't because they are "bad", it is because they are curious and love learning.
Also just because adults see particular behaviours as bad doesn't mean they are. For an example, a child goes into the bathroom and unravels the toilet roll. Most parents would be angry and mad at their child for being naughty. But is that really naughty? To me it isn't. A child was having fun and no one got hurt so where is the harm in it? If you don't want them to unravel a toilet roll, why not give them something else to unravel? Giving them something to occupy their curiosity is the best approach for toddlers. If you don't want them playing with something put it up high so they can't reach.
Do you think screaming at them, putting them in time out will achieve the desired effect? It could result in a withdrawn child that does everything you tell them to and maybe that is what you want but is that fair or good for your child? A child isn't going to understand what you are trying to achieve and will see your time-outs and discipline as a sign that you don't love them, not unconditionally anyway.
Appreciate that they are only 2, that they are only just learning about the world and try to use this when it comes to their behaviours and actions. Instead of seeing your child as born bad, why not respect the fact that they are just reacting to their environment, exploring it. A child isn't born bad, it is our interpretation of their behaviour that makes something wrong or right.
On top of this, it is worth noting that a child is much more than just their behaviour. You might be able to discipline them into behaving a particular way, but they will be acting that way out of fear and avoidance of punishment as opposed to choosing to do it because they want to.