Death Penalty Assignment Example | Topics and Well Written Essays - 250 words

Death Penalty - Assignment Example This is the only way of undertaking death penalty in Colorado. Earlier, there were a number of ways in which the death sentence was being undertaken that included gas chamber etc (Palmer, 2013). The debate of death penalty is Colorado is not proposing the demolishment but rather consider it as an effective strategy against criminal offences. However, the implementation requires a lot of investigation before the overall decision. Recently, the case of Nathan Dunlap has gained much attention by the media as the legislation has been questioned for its effective decision-making in finding necessary evidence (Palmer, 2013). In order to make sure that all acute criminal offences are being addressed with proper implementation of death penalty, seventeenth aggravating factors were listed. These included the murderer to be heinous, murderer’s purpose to gain pecuniary benefits, the victim was kept as a hostage, the victim was personnel of governmental institution, the defendant committed treason against the national interest etc. (Palmer,

Benefits of E-Recruitment on Human Resource Supply Chain Management Dissertation

Benefits of E-Recruitment on Human Resource Supply Chain Management - Dissertation Example The researcher has taken help of diffusion of innovation theory (DIT) in order to formulate the research model. Findings – Benefits of e-recruitment such as cost efficiency, broader access to potential candidate’s profile and short recruitment cycle can positively increase efficiency for human resource supply chain management for Indian healthcare companies and also can help them to achieve competitive advantage in terms of profitability and return on investment. Originality/value – This research will try to shed light on relational matrix between e-recruitment and human resource supply chain management in terms of Indian healthcare industry perspective, the research problem for the study is ignored by the previous researchers for a long time. Findings of the researcher will create not only scope for future researchers but also help companies to decide e-recruitment strategy. Keywords – E-recruitment, Recruitment, Human resource management, Health care ind ustry, India Paper type- Research paper Table of Contents Table of Contents 3 Chapter 1: Introduction 4 Chapter 2: Project approach 5 Chapter 3: Literature review 6 Chapter 4: Critical evaluation and analysis of the data 11 Chapter 5: Discussion 26 Chapter 6: Conclusion 29 Reference 31 Appendices 38 Chapter 1: Introduction According to research scholars such as Ensher et al (2002), paradigm shift of traditional human resource strategy to e-HR strategy is a major breakthrough in the field of human resource management. Ensher et al (2002, p. 238) have defined e-HR policies as, â€Å"increased emphasis on HR as a strategic business partner whose primary challenge is to recruit, develop and retain talented employees for the organizations.† Other research scholars such as Lengnick-Hall and Moritz (2003) and Ulrich (2000) have stated that e-HR policies and e-recruitment not only help companies to reduce time and cost regarding recruiting employees through â€Å"HR middleman† but also help make HR professionals more competent by challenging them to learn new technological applications. On the other hand, Joyce (2002) and Dixon (2000) have pointed out that, e-recruitment or recruiting employees by using the internet has become a revenue generating options for third party recruiters. E-recruitment has become latest buzzword in service sector of India and other South Asian countries, South-East Asian countries (Labanyi, 2002; Fisher, 2001; Gomolski, 2000 and Galanaki, 2002). Teo (2001), Sanchez-Franco and Roldan (2005), Liu and Wang (2007) and Karlsen et al (2006) have found that, e-recruitment system with less technological complexity attracts more job seekers, hence it is a challenge for organization to build an effective e-recruitment strategy which is simple but effective. According to the limited knowledge of the researcher, very few researchers have tried to understand benefits of e-recruitment in context to Indian healthcare service industry; such g ap in the literature has encouraged the researcher to develop following research objectives. 1.1 Research objective To investigate how benefits of

Macroeconomics Essay Example | Topics and Well Written Essays - 2500 words - 2

Macroeconomics - Essay Example The organization of petroleum exporting countries decides by them the cost per barrel of petroleum. The present price of petroleum in the world market has skyrocketed in the last few years because the OPEC members have agreed to limit the output per country. Since the agreed output has been reduced, the prices of petroleum per barrel have skyrocketed for the past few years. A study of the non – OPEC member nations, government and other academic researchers have shown that the non OPEC member nations may have equal sales with the OPEC member states in 2010. The worst case scenario is predicted by some scientists showing the world’s population will squander the limited petroleum oil supply. When the petroleum will dry up, then the world’s population will have a feeling that we are approaching the end of the world. Exxon has warned OPEC countries that the oil supply will not last forever. In some countries, solar energy research have been successful replacements for petroleum. Oil production can be subdividied between the OPEC member countries and the non OPEC. Countries have started looking for non-petroleum product replacements. An example is the electric power batteries. The solar powered homes and calculators are big successes. The introduction of the substitutes will help lower the the increasing barrel cost of petroleum (fossil) fuel. In fact, â€Å"Many large-scale projects, such as shale processing and synfuels (e.g., coal to liquids), were begun in the early 1980s, but these were abandoned when the price of oil fell drastically in 1986. However, research has continued at a steady pace since that time. Even producing oil from tar sands is now a alternative major industry in Canada. Plants to produce liquids from natural gas are operational, and much larger plants are under construction. Ethanol production from sugar cane and corn is now done on an industrial scale. Thus,

Unemployment Rate or GDP OR CPI Research Paper Example | Topics and Well Written Essays - 500 words

Unemployment Rate or GDP OR CPI - Research Paper Example Thus, since GDP is a full representation of economic growth and production, it has a relatively large impact on nearly every aspect in the economy. When a certain economy is considered healthy, there are a number of related characteristics; low rate of unemployment and an increase in the level of wages as many businesses demand more labor in order to cater for the ever growing economy (Brezina, 20). Any slight change in the level of GDP is significant to a given economy since it affects the entire stock market. Economists have always argued that any bad economy is always associated with lower profits which implies that there are lower prices o stock in the markets. Thus, many investors in any economy will ever worry about the negative growth of GDP as it is a sole factor used to determine if an economy is on recession or not. A recession is associated with declining revenues in businesses, unemployment and layoffs (Lochner, 3). Moreover, when the growth rate of GDP is relatively fast, most Federal Reserve raise the rates of interest in order to stem inflation or rather the increasing prices in an economy. This could imply that the loans which are meant for homes and cars will become more expensive and thus businesses will experience high cost of borrowing. GDP is an extremely important measure in any country’s economy. Despite the fact that GDP cannot be easily determined, its value represents so many aspects in any given economy. This measure is significant to overall spending of a nation since depressions and recessions of a particular country are largely caused by the overall rate of spending. Furthermore, GDP is a measure of confidence since when the government, companies and individuals spend; it is a likely indication of a growing economy. However, when no one is spending, it is a likely indication of a contracting economy. Therefore, this

The issue of tragedy Essay Example for Free

The issue of tragedy Essay The term, tragedy, by dictionary definition, can be defined as A story with a sad or unhappy ending. (Arthur Miller, Tragedy and the Common Man). Although there is some truth to this, the true definition of tragedy goes much deeper. The notion of tragedy has been a part of English literature since the beginning of the Classical times. Tragedy is available in almost all literary forms, such as, novels, play wrights, film, etc. Shakespeare, for example, has written numerous world renowned tragedies since the turn of the seventeenth century. Four centuries later, with all the changes to the world of literature, tragedy continues to prevail, as a popular form of literature. Through comparing and contrasting William Shakespeares, Hamlet, with Arthur Millers, Death of a Salesman, it is clear that tragedy continues to have many of the same features as it did so long ago and it continues to appeal to audiences today. This is demonstrated through the tragic hero, the heros tragic flaw, and the catharsis. With these three elements included, a more exact definition of tragedy is defined by Aristotle as, the imitation of an action that is serious, complete, and of a certain magnitude, in language embellished with each kind of artistic ornament, the several kinds being found in separate parts of the playthrough pity and fear effecting the proper purgation of these emotions. (Aristotle, The Poetics). Although each and every tragedy is slightly different or even quite dissimilar, every true tragedy includes the presence of a tragic hero. The tragic hero can be defined as man as both beautiful and terrible (Class notes, Tragedy and The Tragic Hero). It is most often the heros unjustified life which turns his story into a tragedy. The tragic hero has been a critical role since the beginning of tragedies and it continues to be today. However, views of how the hero should rank in society, have changed over time. According to Aristotle, it is thought that the heros position in society is to be much above the average man. Aristotle defines the hero to be a character of noble stature and has greatness. (Aristotle, Aristotles Idea of Tragedy). This can be seen in Shakespearean time, through such plays as, Hamlet. Hamlets noble stature comes from his position as a prince; he is the son of  the late king and nephew to the new king. Hamlets strong loyalty and dedication to his family has been interpreted as his greatness by many critics. This can be seen as Hamlet learns the truth about his fathers death, and his father asks him to seek revenge on his uncle, the new king, Haste me to knowt, that I, with wings as swift As meditation or the thoughts of love, May sweep to my revenge. (Shakespeare, Hamlet, III, v, 23-24). Hamlet reveals that he will do whatever it takes to seek revenge upon his uncle and is not worried about the consequences. With this quote, It becomes obvious that Hamlet is in fact the tragic hero of the play. Although it is partly the consistency of tragic heroism that attracts viewers to tragedy today, the status of the tragic hero has been viewed differently by great philosophers today, than it was hundreds of years ago. Arthur Miller, for example, believes that the common man is as apt a subject for tragedy in its highest sense as kings were. (Arthur Miller, Tragedy and the Common Man). The tragic hero, Willy Loman, in Arthur Millers, Death of a Salesman , unquestionably conforms to this description. Willy Loman is a common man, which is evident through his family life, his career as a salesman, and his position in society. Viewers can easily identify with him, which further classifies him as a tragic hero. Although Willy is a common man, he still has some greatness. His greatness lies in his struggle to claim some shred of dignity. He fights back against a system that is bigger than he is, that destroys little men like him. He demonstrates an ability for self sacrifice. (Class notes, Death of a Salesman- Is it a Tragedy). This is demonstrated through Willys discussion with Howard about getting further ahead in his business, You cant eat the orange and throw  the peel away-a man is not a piece of fruit. (Arthur Miller, Death of a Salesman, pg. 84). Willy is attempting to justify his position in society and fight back against the system, which he inevitably fails miserably at doing. By comparing Shakespeares Hamlet with Willy Loman in Arthur Millers, Death of a Salesman, it is evident that the tragic hero is a key element to every tragedy. Although their positions in society are slightly different they  both posses qualities of greatness and will eventually be doomed by these qualities. A tragedy would not be a true tragedy without the presence of the tragic hero, which is why audiences are still attracted to tragedies after hundreds of years. Although the tragic hero is acclaimed to be deemed with the qualities of greatness, the tragic hero is certainly not perfect. In fact, this strong imperfection is know as the heros tragic flaw. The heros tragic flaw is what distinguishes him from any other character. This can be seen in both Death of a Salesman and Hamlet. It may be exactly this unique tragic flaw which continually attracts audiences to tragedies today. The heros tragic flaw is unique to each character and it is what makes him/her a true tragic hero. In Shakespeares, Hamlet, Hamlets tragic flaw comes from his boundless loyalty to his family. It is because he strives to follow his fathers orders to the absolute fullest that he eventually causes his own demise. Hamlet is overly passionate, indecisive, excessively intellectual, and overly infantile. He has never grown up. Hamlet suffers from oedipus complex and cannot accept the reality that he has a mother with sexual needs. It is his tragic flaw which make Hamlet bound for destruction. This becomes evident to the audience when Hamlet is in his mothers room and hears a scream, without looking he assumes it is the voice of Claudius, How now, a rat? Dead for a ducat, dead. [Makes a pass through the arras, Polonius falls and dies]. (Hamlet, III, iv, 72) This is Hamlets character flaw, he doesnt think before he acts, he simply wants to follow his fathers commands to the fullest and so he acts with excessive passion. The tragic hero always has the potential to excel in his greatness but he/she inevitably succumbs to his/her weaknesses/tragic flaw. (Class notes, Tragedy and the Tragic Hero). The tragic hero, Hamlet, is very different from Death of a Salesmans tragic hero, Willy Loman, yet the tradition of the tragic flaw continues. Willy Lomans tragic flaw differs dramatically from Hamlet, yet audiences are still attracted to the tragic flaw today as much as they were in Shakespearean time. In Arthur Millers, Death of a Salesman, Willy Lomans tragic flaw comes from the unnecessary, immense importance he puts upon success, class, and respect through the eyes of society. Willy becomes  obsessed with obtaining a high position in society that it becomes his only reason for living. It is his tragic flaw which eventually leads him to his own death. As Arthur Miller comments, the tragic feeling is evoked in us when we are in the presence of a character who is ready to lay down his life if need be, to secure one thing- his sense of personal dignity. (Arthur Miller, Tragedy and The Common Man). This describes Willy Loman exactly. The feeling of pity is evoked in viewers because Willys tragic flaw is so easy to identify with. Willys flaw has good intentions, for he wants Biff to follow in his footsteps and benefit from his values, but Willys true flaw is his blindness to see that his obsession with these values is causing his own demise. This is demonstrated when Willy gives his two sons advice about getting ahead in the world the man who makes an appearance in the business world, the man who creates a personal interest, is the man who gets ahead. Be liked and you will never want. (Miller, Death of a Salesman, Pg 33) Obtaining a high position in society and being respected in the business world are what Willy feels are the most important aspects of life. As Bradley writes, [The tragic hero] need not be good, but should have so much of greatness that in his error and fall we are vividly conscious of the possibilities of human nature. (Class notes, Tragedy and The Tragic Hero). The feeling evoked is that if waste. Both Hamlet and Willy had great possibilities in life but the blindness of their tragic fall caused them to waste their chances and waste their life. This expected tragic feeling has remained constant over time and is what continues to appeal to audiences time and time again. Tragedies are literary works which are continually filled with suffering, destruction, and most often death. However, through this suffering, the tragic concept is that man endures and gains through suffering. (Class notes, Tragedy and the Tragic Hero) The destruction in each tragedy is never meaningless, it has significant relevance. Although, emotions are aroused, tragedy does not leave viewers feeling depressed. The goal of a tragedy is to leave viewers in a state of catharsis. The word catharsis implies that tragedy purges, removes, or unclogs negative emotions, such as pity and fear that build up within the human spirit. (Some thoughts About Tragedy, both  literary and mundane) Tragedy cleanses, purifies, and thus rids viewers of negative emotions, such as, anger, pity, and fear, and turns them into something good. Viewers endure the tragedy but then gain through suffering by purifying their unhealthy emotions into something healthy. Catharsism is evident in both Hamlet and Death of a Salesman and it continues to attract viewers to tragedies today, as it did hundreds of years ago. At the end of Hamlet, viewers are left with a very negative scene of blood, and many meaningless deaths. As depressing as it may seem, it is not meant to leave the audience feeling depressed. The audience is left with a feeling of cleansing, ridding any feelings of revenge. Viewers accept a feeling of a new beginning, due to the prior line of madness being destructed. Hamlet displays a portion of this optimism just before his death, Give me the cup. Let go. By heaven, Ill havet. O God, Horatio, what a wounded name, Things standing thus unknown, shall live behind me! If thou didst ever hold me in thy heart, Absent thee from felicity awhile, And in this harsh world draw thy breath in pain To tell my story (Hamlet, v, ii, 120). Although Hamlet is dying, he asks for his story to be told so others can benefit from the story of his life. It turns a depressing notion into something optimistic. Arthur Millers Death of a Salesman follows this same trait. Without personally reading or viewing, Death of a Salesman, one might think that Willy Loman taking his own life is a very depressing notion. However, like Hamlet, Death of a Salesman leaves the audience with the feeling of a catharsis when Willys life tragically ends. Audiences can easily relate to Willy Loman in his time of despair, as he fails again and again to obtain recognition from society. It is his entire reason for living until he eventually gives up and lays down his life in order for Biff to benefit. The tragedy allows the audience to purge themselves of feelings of pity and fear due to the strong connection with Willys character. Happy realizes what Willy has done for Biff and as he stands at his fathers funeral, Happy defends Willy by saying Im gonna show you and everybody else that Willy Loman did not die in vain. He had a good dream. Its the only dream you can have-to come out number-one man. He fought it out here, and this is where Im gonna win it for him. (Miller, Death of a  Salesman, Pg. 138-139). The audience realizes that Willy has almost turned his own defeat into a triumph, which replaces any negative emotions, with positive ones. There is no doubt that in every tragedy, there is endless suffering and destruction, however it is ones recognition with these feelings which allows the audience to cleanse themselves of these emotions and gain through the suffering. These qualities have been a large component of tragedy since tragedy began and continue to attract and appeal to audiences today. Tragedies are often extremely varied and each one is slightly different. The content of tragedies can be extremely diverse and often have nothing in common with any other tragedy. However, there are a few components which must be present in every true tragedy. Three important aspects which are contained in every true tragedy is the tragic hero, the heros tragic flaw, and the catharsis. This becomes evident through comparing and contrasting William Shakespeares, Hamlet, with Arthur Millers, Death of a Salesman. It is these features which allow tragedy to appeal to audiences today, just as much as they did hundreds of years ago. Tragedies have been popular for centuries and they will continue to be popular for centuries to come.

Juvenile Offenders Essay Example for Free

Juvenile Offenders Essay Steinberg states that there are some issues which are very challenging to the society concerning the nature of human development and justice when it comes to serious juvenile crimes (para, 1). This is due to the fact that people do not expect crimes to be committed by children let alone children being criminals. The unexpected connection between childhood and criminality brings about a dilemma that is hard to resolve (Steinberg para, 1). Some of the ways out of this dilemma are: trying to redefine the offense as something of less magnitude than a crime and redefining the offender as somebody who is not actually a child. For almost a century now, the American society has chosen to redefine an offense as something less than a crime (Siegel and Welsh p, 211). Hoge, Guerra and Boxer states that most juvenile offenses have for long time been treated as delinquent acts that need adjudication within a separate justice system for juveniles (p, 154). This system is designed in such a way as to recognize the exceptional needs as well as the immature condition of young persons and stresses more on rehabilitation over punishment. Steinberg asserts that the two guiding principles that have prevailed concerning young people are that: they have different competencies as compared to adults, which necessitates adjudication in a different type of system, and that they have different potential for change and therefore qualify for a second chance as well as an attempt at rehabilitation (para, 4). The operations of juvenile courts are carried out under the presumptions that offenders are immature meaning that their development is incomplete, their judgment is immature, and their character is still undergoing development. However, in the recent past as Steinberg states, there has been a tremendous shift concerning the way crimes committed by juveniles are treated by policymakers as well as the general public (para, 6). This shift has resulted in great changes concerning policies that deal with the way juvenile offenders are treated. Gale argues that instead of choosing to defend offences committed by young people as delinquent, the society has opted to redefine them as adults and transfer them to the criminal justice system that deals with adult crime (p, 76). Some proponents in society have come to agree that there are those young offenders who should be transferred to the adult criminal justice system due to the fact that they pose a serious threat to the safety of the society where other juveniles live (Siegel and Welsh, p. 214). Proponents, as Hoge, Guerra and Boxer illustrates, argue that the magnitude of the offense committed by these youth deserves a relatively more harsh punishment (p. 174). They also argue that the history of repeated offenses do not augur well for definitive rehabilitation of juvenile offenders. This however, does not describe the large number of young people who are currently being put on trial in the adult criminal justice system. Steinberg argues that majority of these have been charged with crimes that are not as violent to merit such a harsh punishment (para, 7). When this transfer of juvenile offenders to adult system begins to become a rule instead of an exception, it characterizes a primary challenge to the very ground that the juvenile system was anchored in- that young people are different from adults. Debates concerning transfer policies can be viewed from different angles. Developmental psychologists would ask whether the differences drawn between people of various ages under the law are rational in light of what is known concerning age variation in different aspects of social, emotional, and intellectual functioning (Hoge, Guerra and Boxer, p. 79). One major issue based on developmental psychology that emerges is about the creation of a boundary between young people and adults in matters of criminal justice. Developmental psychology seeks to identify the scientific reasons that justify the separate treatment of adults and young people within the criminal justice system, especially with reference to the age bracket, 12-17 years, highly under political analysis currently (Steinberg para, 9). First and foremost, this age bracket is an intrinsically intermediary phase. It involves swift as well as dramatic changes in individual’s social, intellectual, physical, and emotional capacities. It is a phase where a line concerning competence and incompetence of individuals can be drawn. Secondly, teenage years are a period of potential flexibility (Gale p, 98). Young people are heavily influenced by experiences in school, at home, as well as other social settings. To the level that flexibility is possible, transfer of young people into a criminal justice system that rules out a rehabilitative response may be an unrealistic public opinion (Siegel and Welsh, p. 11). Adolescence is a decisive phase through which numerous developmental trajectories are firmly set up and increasingly hard to change. Numerous experiences that adolescents go through have devastating cumulative impacts. Irrational decisions and poorly formulated policies relating to young offenders may have unpredictable harmful outcomes (Gale, p. 104). According to Steinberg, mitigating factors such as mental illness, emotional stress and self defense should be critically evaluated when trying a young person (para, 14). A punishment that is fair to an adult may be unfair to a young person who was not aware of the penalties of his/her actions. It would therefore be unethical to give life sentences to juvenile offenders. The way laws are interpreted and applied should vary when dealing with a case in which a defendant understanding of the law is limited by intellectual and emotional immaturity. The repercussions of administering long and severe punishment are very different when the offender is a young person as compared to when he/she is an adult (Steinberg, para. 17).

Impact of FDI on Host Country

Impact of FDI on Host Country ABSTRACT This project critically examines the negative effects that FDI poses to the host economy. The impact of FDI on the host economy can be understood with the help of The Standard Theory of International Trade and The Theory of Industrial Organisation. FDI has both positive and negative impacts on the host-country. FDI has an adverse effect on the host countrys economy, environment, domestic firms, political environment, labour market and trade balance. Through this project, it is concluded that the government policies should be such that they exploit the benefits of FDI completely in order to overrule its drawbacks. INTRODUCTION There is an increasing acknowledgment to recognize the forces of economic globalization which first requires looking at Foreign Direct Investment (FDI) by multinational corporations (MNCs): that is, when a firm based in one country locates or acquires production facilities in other countries. (Blonigen, 2006). Over the past decade Foreign Direct Investment (FDI) has grown noticeably as a major form of international capital transfer. Between 1980 and 1990, world flows of FDI- defined as cross-border expenditures to acquire or expand corporate control of productive assets have approximately grown three times (Froot, 1993). â€Å"FDI has turned out to be a major form of net international borrowing for Japan and the United States, the worlds largest international lender and borrower respectively† (Froot, 1993, pp. 1). The most introspective effect of FDI has been seen in developing countries, wherein annual Foreign Direct Investment flows have increased from an average of less than $10 billion in the 1970s to an annual average of $208 billion in 1999 (Source: UNCTAD). A large portion of global FDI is driven by mergers and acquisitions and internationalization of production in a range of industries (Graham and Spaulding, 2005). Despite the noticeable importance of FDI and MNCs in the world economy, research on the factors that decide FDI patterns and the impact of MNCs on parent and host countries is in its early stages. The most significant general questions are: what factors determine where FDI occurs, and what impacts do those MNC operations have on the parent and host economies? This report mainly analyses the negative impact of FDIs on host economies. FORIEGN DIRECT INVESTMENT â€Å"Foreign Direct Investment reflects the objective of obtaining a lasting interest by a resident entity in one economy (â€Å"direct investor†) in an entity resident in an economy other than that of the investor (â€Å"direct investment enterprise†)† (OECD). In other words, it is a direct investment made by a corporation in a commercial venture in another country. What separates FDI from portfolio investment is the control over the investment (Gillies, 2005). In case of FDI at least 10 percent of the voting rights must be held by the foreign investing company (Daniels et al., 2004). The difference between FDI and other ventures in foreign countries is mainly that the new venture operates completely outside the economy of the companys home country. The main motivators behind FDI are resource acquisition, sales expansion and risk minimisation. Besides this governments may also encourage FDIs due to various political motives (Daniels et al., 2004). TYPES OF FDI Foreign Direct Investment can be classified into three broad categories on the basis of direction, target or motives. On the basis of direction FDI can be classified into Inward or Outward FDI. When foreign capital is invested in local resources, it is referred to as Inward FDI, on the other hand when investments are made by local firms in foreign resources it is referred to as Outward FDI. Outward FDI is also known as â€Å"direct investment abroad† and is always backed by government support in case of any risks. On the basis of target FDI can be classified into Greenfield Investments, mergers and acquisition, horizontal and vertical FDI. Greenfield Investment refers to direct investment in new arenas or the development of existing amenities. This leads to creation of production capacity, employment opportunities, transfer of technology and expertise as well as linking of the host economy to the global marketplace. Mergers and acquisition are a major kind of FDI whereby there is a transfer of existing resources from local businesses to foreign businesses. Cross border mergers take place when the management of resources and business operations is relocated from a local company to a foreign company, with the local organisation becoming an associate to the foreign organisation. Acquisitions take place when the foreign company takes over a domestic company, and establishes itself as the new owner of the domestic company. Horizontal FDI refers to an investment made by a foreign company in the same industry in which it operates in its home country. Vertical FDI can be classified further into backward and forward vertical FDI. Backward Vertical FDI occurs when a domestic firm is provided input by a foreign firm in order to aid its production process whereas Forward Vertical FDI occurs when the output of a domestic firm is sold by an industry abroad it is known as forward vertical FDI. Lastly on the basis of motives, FDI can be classified into four types. The first type is of FDI takes place when the various factors of production may not be available in the home country of the firm or be more efficient in the host country, thereby encouraging firms to make investments. This is known as Resource seeking FDI. The second type of FDI which can be used as a defensive strategy is Market-seeking FDI. These investments are made either to maintain existing markets or to penetrate into new markets. The third type is Efficiency Seeking FDI, where the firms hope to increase their competency by exploiting the advantages of economies of scale and also common ownership. The firms thus try to achieve the objective of profit maximization. the last type is Strategy -asset seeking FDI, which is a common tactic used by firms to stop their competitors from acquiring resources. Thus these are the various types of FDI. IMPACT OF FDI ON HOST ECONOMY There are two approaches in economic theory which contribute to studying the effects of Foreign Direct Investment on host countries. One is the standard theory of international trade by Macdougall (1960). This theory is a â€Å"partial equilibrium comparative-static approach intended to examine how marginal increments in investment from abroad are distributed† (Blomstrom, 1997, p.1). The main assumption of this model is that there is an increase in the marginal productivity of labour and a decrease in the marginal productivity of capital. The other theory was proposed by Hymmer (1960) and is called the theory of industrial organisation. The main question of the theory is why firms make investments in other countries in order to manufacture the similar goods they manufacture at home. The answer to this question has been rightly devised by Kindleberger, 1969, p.13), who says, â€Å"for direct investment to thrive there must be some imperfection in markets for goods or factors, including among the latter technology, or some interference in competition by government or by firms, which separates markets†. Thus firms of home countries must have some asset which is going to be lucrative for its associate in the home country (Blomstrom, 1997). Foreign Direct Investment has both positive and negative effects on the host economy. POSITIVE EFFECTS OF FDI ON HOST ECONOMY FDIs have a number of positive impacts on the host country. It encourages economic development by increasing the productivity and exports of the host countries. There are four channels which help in increasing the productivity of host country, namely imitation, skill acquisition, competition and exports (Gorg Greenaway, 2004). The local firms in the host countries benefit by the indirect technology transfer that takes place between the MNC and the domestic companies. Local firms can compete more successfully in the export markets by copying the superior technology or management techniques used by the multinationals (Blomstrom, 1991). Domestic firms become more exposed to the foreign markets and subsequently their knowledge of the international markets increases. The Managers and other qualified employees of the domestic firms acquire the superior managerial and technical skills, which increases their efficiency. Multinationals increase the existing market competition, instigating the local firms to become more efficient by investing in physical or human capital. They help to increase industrial efficiency and improve resource allocation in host countries by entering markets which had many entry barriers. Thus by entering these monopolistic markets they increase competition and force the local firms to become more proficient. This is how, domestic firms are provoked by multinationals and other overseas firms to improve their performance and productivity. Multinationals also influence the local suppliers of intermediate products to become more efficient with delivery speed, quality and reliability of the products so as to meet the high standards of the overseas company. It is seen that FDI has a positive impact on labour market. If the productivity of domestic firms increases by copying the multinationals production style which is based on increased labour productivity, then the domestic firms will not hesitate from paying higher wages to the labour (Lipsey Sjoholm, 2010). Multinationals also increase the standard of the host countrys labour market by providing the labourers with training and making them qualified enough to handle complicated machinery and increasing their productivity. Lastly FDI affects the economy of the host country positively by increasing their revenues in the form of taxes, strengthening the exchange rate of the country and instigating the government to make policies which would attract more MNCs towards it. NEGATIVE IMPACT OF FDI ON HOST ECONOMY As seen above FDI has a number of positive effects on the host economy but these effects do not come free of cost. FDI brings along with it a number of negative effects which prove harmful to the country in various ways. Extend of the negative effects of FDI depends on the characteristics of the multinational companies, the host country and the policies of the host country. Some of the negative effects have been highlighted below: ENVIRONMENTAL DEGRADATION With increasing competition all over the world, companies are shifting their production base to developing countries where they can carry out the production of goods that are pollutant to the environment. These countries have flexible environmental regulations and are less stringent with their enforcements. Thus by carrying out production in such countries they are able to get a competitive edge over companies which carry out production elsewhere. Lowered trade obstacles are leading to a shift of polluting industries from countries with austere environmental regulations to countries with moderate environmental regulations. This leads to an increase in pollution in countries with lenient environmental policies because they refuse to tighten them in order to gain a stronger position over others in international trade. Trade may modify the environmental outcomes through a number of different channels. The scale effect is one such channel that has harmful implications to the environment. This is because when multinationals set up manufacturing facilities or outsource these to other local businesses, it leads to an increase in output which in turn leads to an increase in pollution (Liang, 2006). MARKET STRUCTURE FDI has a negative impact on the market structure as well. As the multinationals enter the market, it leads to the increase of concentration levels within the economy which in turn hampers market control. Therefore risk is prevalent. FDIs tend to assemble in exceedingly concentrated industries. The relationship between presence of foreign organisations in the host countries and the concentration within the economy is indebted to the nature of multinational ownership benefits rather than to anti-competitive activities. In small economies, proficient exploitation of modern advanced technology leads to concentrated market structures. If such economies have lenient trade administration then the risk of anti-competitive activities is diminished to a great extent (Lall, 2000). However it is evident that successful competition strategies are very important as multinationals have the capability to simply control an industry in a host economy. TECHNOLOGY FDIs open the doors for the host country to access new technology but this technology is controlled and possessed only by the MNEs. MNCs generally invest in capital-intensive technologies and have strict proprietary rights which prevent its spill over to local firms. The technology bought in by the MNC may not be favourable to conditions of the host country. For example if the host country is a labour-intensive country and the technology used by the multinational is capital-intensive then gradually it will have a negative effect on the host economy. Once the domestic firms start imitating the foreign firm and start using the same technology used by them, labourers will lose out on their jobs. Thus this would lead to unemployment problems which will negatively affect the economy of the host country. A country attracts FDI so that the national economy grows by creating new job opportunities but in this case it would work in the opposite direction. Pollution-intensive technology may also be exported from countries where they are banned. COMPETITION FDIs have an adverse affect on competition and hamper the prevailing market equilibrium. In developing countries, the domestic firms may not be able to cope up with the competition put up by the MNCs. Thus they would lose out on business. Some multinationals acquire monopoly status in highly profitable sectors. With their monopolistic power they wipe out all competitors from the market. New enterprises are not willing to enter these markets because of the huge capital and risks involved. Thus these multinationals are able to demand unreasonable prices form the customers, leaving them with no other choice but to pay excessively higher charges due to the limited choices available. These monopolistic companies do not even invest in new technologies to bring down their costs since they are already enjoying the luxury of irrational prices. PRODUCTIVITY Atiken and Harrison (1999) and Konings (2001), have suggested that MNCs decrease the productivity of local organisations through competition effects. MNCs are able to carry out productions at lower costs since they bring along some proprietary knowledge which is firm specific. In addition they have superior managerial and marketing skills, reduced production costs, bulk purchases, etc which helps them reduce their marginal costs. Therefore, the demand for goods produced by MNCs increases, which in turn reduces the demand for locally produced goods. This ultimately leads to a decrease in domestic production increasing the average costs. With the establishment of multinationals, the demand for foreign inputs increases in comparison to local inputs which hinder the domestic firm from producing to its optimum capacity. Thus the domestic firms are not able to take advantage of economies of scale. Domestic firms may not be quick enough to grasp knowledge from the foreign firms, losing out on competition in the short run (Gorg Greenaway, 2004). MNCs usually offer higher wages to domestic workers, thereby attracting all the skilled ones, leaving behind only the semi or unskilled labour for the local firms. It is a common trend amongst MNCs to offer higher wages in comparison to the domestic firms in developed as well as developing countries. LABOURERS The workers in the host countries may not be comfortable with some of the foreign policies adopted by MNCs. One of the most attractive features for FDI in a host country is cheap labour. They take advantage of the cheap labour by producing labour intensive goods and thereby decreasing their costs of goods. With the establishment of labour intensive technology by MNCs, a country becomes highly dependent on them for its employment. Now multinationals are always trying to reduce their costs, so if they are able to find places with cheaper labour, they shift their base to that country. Thus there is always a fear of unemployment due to FDI withdrawal. GOVERNMENT POLICIES The government of the host country may face problems due to the establishment of FDIs. The government has less control over the operations of the foreign company that is functioning as the wholly owned subsidiary of an overseas company. Taking advantage of this, the MNC may not abide by the economic policies of the host country. They hamper the various environmental, governance and social regulations laid down by the government of the host country. With FDI there is risk that confidential information of the host country could be leaked out to rest of the world. It has been seen that due to FDIs the defence of a country has witnessed various risks. It is also noticed that multinationals are very reluctant to pay taxes of the host country. MNCs exploit the tax structure of the country by taking advantage of the lenient tax regulations of the host country and lack of enforcement by the government (Velde, 2001). Another huge problem faced by host countries is that of transfer pricing which is a financial accounting device used by MNCs to maximise profits. Transfer pricing refers to the price charged by one associate of a company to another associate of the same company. Transfer pricing relates to all transactions that take place within a company including raw materials, management fees, royalties, finished products, etc. Transfer pricing is an illegal way of making huge profits for the MNCs. Transfer prices can be fabricated, thus different from the price that unrelated firms would have to pay. Thus by using transfer prices as a weapon, MNCs manipulate their books of entry and acquire huge amounts of profits without an actual change in their physical capital. Profit transferring is a way of avoiding or saving taxes by MNCs through illegal ways. If the MNCs pay lesser taxes in the home country of their foreign affiliates in comparison to their host countries, then in order to increase profits, MNCs manipulate their book of accounts. They will inflate their expenditure on import of materials from their foreign partners or subsidiaries, this will show higher profits in the books of accounts of the foreign affiliates and less profit in the MNCs account in the host country. Thus evading taxes and at the same time they will artificially transfer profits to the home country. CROWDING OUT OF DOMESTIC INVESTMENTS FDI crowds out domestic investments by creating a monopolistic environment. This can be explained in two ways. Firstly MNCs raise funds locally in the domestic market, increasing the demand for money and in turn increasing the interest rates, which crowds out domestic investments. Secondly when MNCs enter a new country, they bring with them huge investments which increases the overall money flow of the country. This increases the aggregate demand, leading to an increase in prices, i.e. inflation, which will then increase expenses, reduce savings and ultimately force people to borrow money, leading to higher interest rates. Thus is this way the local investments are crowded out (Borensztein et al., 1997). Foreign firms have better advertising powers, ability to dominate the market and predatory pricing to prevent entry. INFRASTRUCTURE CONSTRAINTS Multinationals come in the way of a countrys infrastructure development. It is seen that multinationals are always attracted towards the more favourable regions of a country. Now with the establishment of multinationals in these regions, more efforts are put towards the betterment of these regions. As a result the rural and poor regions are ignored and they continue to remain underdeveloped. COUNTRYS TRADE BALANCE FDI has an adverse effect on the Balance of Payment of the host country (De Mellow, 1997). Financial inflows raise the exchange rates, making it unfavourable for exports. When MNCs enter a country, they bring along foreign exchange and thus increase their supply, which strengthens the host-country currency, making the domestic products more expensive in the international markets, and as a result of this the total exports of the host country reduces. Thus there is a decrease in the net exports (Total Exports- Total Imports) of the country. Hence the BOP may become unfavourable. The capital and current account are also hampered. When the MNC enters the host country, it might have previous raw material suppliers, or intermediary product suppliers, from whom it continues to buy its secondary material; this would lead to an increase in the import of the country making the BOP unfavourable. Secondly MNCs transfer their profits, management fees, royalty fees, etc back to their home country, hampering the capital account of the country. ECONOMY Multinationals usually tend to exist in close proximity to each other. It is seen that MNCs have a tendency to concentrate in the certain sectors taking advantage of the location, labour and resources. Thus the economy becomes extremely reliant on the MNC. A withdrawal of MNC from such areas could seriously hamper the economy and this is seen as a very severe problem in the backward areas. RECOMMENDATIONS CONCLUSION This research paper was carried out to analyse the negative effects of FDI on the host economy and we have come to a conclusion that even though FDI helps in the development and growth of various countries all over the world, these benefits do not come free of charge. FDI can have several harmful effects on the host country. To overcome these harmful effects some recommendations gave been proposed To overcome the negative impact of environmental hazards, the host countries can use a variety of channels. One such channel is the technique effect where the local firms of the host country could learn from MNEs who often use superior technology or these firms may also exit from the market if the foreign firms seize the market share as well as labour supply. Therefore directness to trade will help in improving the quality of the environment. Another channel is the income effect whereby the local electorate may demand better environment standards as well as more strict regulations which are more enforceable by the government when the multinationals increase the income in the economy by creating jobs and thus increasing employment (Liang,2006). To overcome the competitive barriers in developing countries, the domestic firms could use various protective corporate agreements. They could either combine local firms or begin cooperative ventures with the foreign firms. Government of the host company should become more stringent with their policies. They should adopt policies which encourage proper social and environmental principles by the foreign companies. Multinationals should be penalised if they do not adhere by the policies of the country Measures should be taken to curb consumer and labour exploitation and at the same time competition should be created in the labour and product market, removing all entry barriers from the domestic markets. Encourage education, train labourers and promote infrastructure to increase the local capacity to absorb and disseminate the superior new traditions pioneered by overseas companies. By taking a few precautionary measures and by amending the government policies, the harmful effects of FDI can be avoided. 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