It is not a clear yes or no. For me, it depends on which dog, the other dog involved and the scenario.
Kaiser is allowed to correct other dogs because I have seen him be fair and always uses the least amount of force necessary. He's never put his teeth on another dog.
Raven is not allowed because she over corrects and can be a bully so she isn't allowed to make that decision especially with dogs that aren't Kaiser.
In general, I'll allow mild corrections like a growl or showing teeth as long as the other dog is responding appropriately but I rarely allow things to escalate beyond that before intervening.