Introduction

Human capital is a set of knowledge, skills and abilities used to meet the diverse needs of a person and society as a whole. The use of the concept of "human capital" makes it possible to understand the role of social institutions, to find out not only social parameters, but also to conduct an economic analysis of the influence of the social factor on the market economy. In the 20th century, the theory of "human capital" was developed. According to this theory, the improvement of the qualitative characteristics of a person in the areas of education and health ensures the creation of durable economic resources. Education transforms the labor force, giving it the ability to highly skilled labor, and health care increases the term and intensity of use of the ability to work accumulated by the individual. Based on these premises, the productive qualities and characteristics of the worker were recognized as a special form of capital, since they, like other types of capitalized resources, provide their owner with a certain income for some time.

In the conditions of the modern economy, during the economic crisis, the topic of human capital is especially important and relevant, since in the Republic of Belarus people are the most important resource, as was noted by President A.G. Lukashenka at a press conference in October 2009 The new type of worker must be educated continuously throughout his life. Investments in man and his environment allow more efficient use of the economic resources of society. The phenomenon of "human capital" acts as an integral attribute of a market economy.

In this work, I revealed the essence of human capital, examined its structure and main characteristics, studied approaches to the concept of human capital and ways to evaluate it. I examined the role and qualitative aspects of the state of human capital in Belarus and, on the basis of this, concluded what needs to be changed in order to increase the material and educational level of the population, labor productivity, draw the attention of the younger generation to scientific activities, the development of which will have a good effect on the general condition states.

Human capital: concept, main characteristics

Definition of the essence of human capital

The theory of human capital has by no means a simple and highly controversial history. On the one hand, human capital as an objective economic phenomenon has been recognized since the time of A. Smith, K. Marx and many other representatives of classical and post-classical economic theory. Smith wrote that fixed capital consists not only of machinery and equipment, but also of the useful abilities of the members of society, the acquisition of which always requires real costs, which constitute fixed capital. K. Marx notes that from the point of view of the direct process of production, the saving of working time can be considered as the production of fixed capital, and this fixed capital is understood as the person himself. On the other hand, over a long period of time, theoretical economists used in their studies not the concept of "human capital", but such categories as "labor" and "labor force". Human capital has been and is recognized as an objective reality that exists in the world of economic phenomena, but human capital has not yet become a subjective reality in the corresponding theoretical constructions and concepts of most representatives of fundamental theoretical science. In addition, even among the few representatives of the economic theory of the past and present, there is no agreement on at least the key methodological provisions that characterize human capital as a complex and contradictory phenomenon. The term "human capital" first appeared in the works of Theodor Schulz, an economist who was interested in the difficult situation of underdeveloped countries. Schultz stated that improving the welfare of poor people did not depend on land, technology or their efforts, but rather on knowledge. He called this qualitative aspect of the economy "human capital". Schultz, who received the Nobel Prize in 1979, proposed the following definition: “All human abilities are either innate or acquired. Each person is born with an individual set of genes that determines his innate abilities. Acquired valuable qualities that can be enhanced by appropriate investment, we called human capital. He considered human capital as the costs accumulated in the country for the reproduction of the labor force, regardless of the source of their coverage. The results of such investments are the accumulation of people's ability to work, their creative activity in society, the maintenance of people's lives, health, etc. He also substantiated the need for a broad interpretation of a number of categories of reproduction, especially accumulation, assuming that out of the product produced in society, the accumulation of the human factor is no longer used 35-50%, as followed from most theories of reproduction in the 20th century, huh? its total size.

A follower of Theodor Schultz was Gary Becker, who developed this idea, substantiating the effectiveness of investments in human capital and formulating an economic approach to human behavior.

There are a huge number of approaches to research and an abundance of interpretations of the essence of human capital. If we try to classify the interpretations of human capital existing in modern economic literature, they can be divided into the following varieties: a) "predicative", b) "resource", c) "eclectic".

Predicative interpretations of the essence of human capital are formulations that only come into contact with the sphere of human capital, but do not penetrate deep, do not reveal and do not reflect the real essence of the problem.

Resource interpretations of the essence of human capital are the most common in economic literature. The meaning of the "resource" definitions of human capital lies in the fact that it is not about capital as actualized resources, but directly about the resources themselves, which are just a potential, and not a fact of creative activity.

The eclectic characteristics of the essence and the content of human capital associated with it absorb various broken provisions and interpretations of the phenomenon under consideration. In particular, human capital is defined here simultaneously as an element of national wealth, as part of the economic resources of an individual, organization and society as a whole, as a process of creating the required benefits, etc.

The presented interpretations of the essence of human capital are the object of criticism, since they do not reflect the qualitative certainty of the phenomenon under consideration. At the same time, these definitions and characteristics of human capital are very useful in terms of identifying its socio-economic content, as well as studying various aspects of the formation and development of this capital. But, in order to understand what is the qualitative certainty of human capital and how this complex socio-economic phenomenon should be interpreted in connection with this, it is necessary to carry out a research "ascent" from "general" to "special".

Consider the "general" in the characterization of human capital. If capital as such is any value that is directly used to create life's goods, then a person should be considered as the most important capital asset, as the main value, without which it is practically impossible to create any life good. From the point of view of the "general" the essence of human capital lies in its ability to be used to create certain benefits; it is a value capable of providing the creation of other values. "Special" in human capital lies in the fact that the bearer of the value-creating value is the personality itself, from the cultural level and education, motivation and attitudes, decisions and actions of which not only the actualization of human forces and their transformation into a creative, capital value, but also directly any creative process. Only a person sets in motion himself and other types of inanimate capital, a person organizes and manages the creative process, giving it a direction and filling it with a certain content. This circumstance reveals the first, initial feature of human capital: in the system of national capital, it is basic, integrating. Direct investment in human capital is indirect investment in the natural and material capital of the nation. The value of human capital as an integrator of all types of capital lies in the creation of a technological linkage of existing factors of production, in the formation of a favorable socio-economic and institutional environment that ensures the most efficient use of the involved elements of natural and material capital.

The most important feature of human capital is its self-expansion quality, i.e. human capital, considered in unity with the person himself, builds up himself, forms and reproduces the necessary creative qualities and characteristics. The dynamics, complexities and contradictions of the modern reproduction process, as well as the growing and changing requirements for the creation of vital goods, necessitate not only accelerated, but also advanced, diversified development of human capital.

The considered features of human capital are reduced to one more specific property, which appears in the form of the ability of this capital to internally systematize all the qualitative characteristics and quantitative properties of a person; with the direct creative use of human capital, a system of human properties works, a person as such is realized, and not just one or its two characteristic features.

The modern most important feature of human capital is that the sale and purchase of human abilities for a certain creative activity carried out in the human capital market is less and less reflected and explained by the principle of equivalent exchange, and increasingly acquires an external character. The identification of the external nature of human interactions and the development of members of the organization, as well as the presence of a reasonable principle in human capital as such, allow us to single out one more feature of it as a factor of production. This feature lies in the fact that human capital is the only factor of production that, in the process of use, is both consumed and developed. Thus, human capital acquires a multiplicative or "double" value. The multiplier effect is that, as a result of the production process with the aim of creating some kind of life good, the creative value of human capital "at the output" exceeds its value at the "input". This explains the ever-increasing efficiency of investments in human capital, with a relatively fading efficiency of investments in natural and material capital.

The most important feature of human capital is its ability to create wealth without the participation of natural and material capital. These benefits are primarily new knowledge necessary for human development.

Historical, economic and logical and epistemological analysis of existing interpretations of human capital, as well as identifying the features of human capital as a factor of production, allows us to clarify the definition of the essence of human capital, which is understood as a specific value represented by a system of constantly developing, creatively oriented and demanded human properties, conscious and purposeful the use of which ensures the expanded reproduction of the vital goods required for the development.

In modern economic literature, the categories "human capital", "labor", "labor" are often considered as factors of production. Meanwhile, the revealed essence of human capital allows us to say that all these categories are multilevel. The labor force is a certain human resource, a potential readiness for creative activity. Human capital expresses a real readiness for the creative use of a certain combination of human knowledge and abilities. Labor is the materialization of this real readiness into the fact of activity to create this or that good.

The use of the concept of "human capital" makes it possible to understand the role of social institutions, to find out not only social parameters, but also to conduct an economic analysis of the influence of the social factor on the market economy. Becker in his work "Human capital" introduces the concept of "special human capital", that is, this refers only to those skills that are of interest to any one company, any one type of activity. O. Toffler introduces the concept of "symbolic capital - knowledge", which, unlike traditional forms of capital, is inexhaustible and simultaneously available to an infinite number of users without restrictions.

At the present stage, the economy in developed countries has become technotronic, which is reflected in the unity of "man - computer - automated means of production." That is why socio-economic development in the second half of the last century and at the beginning of the present is characterized by the growing role of the human factor. Under such conditions, a person, who is the main productive force, must be armed with the means of production and knowledge, that is, be sufficiently educated. Information support is a well-known method of transmission and helps a person in the implementation of expedient labor actions, but does not perform them instead. At present, intellectual work that generates knowledge is gaining more and more value. That is why in the modern economy human resources play a decisive role in achieving competitive advantages and ensuring the qualitative parameters of economic growth.

Building intellectual strength is the key to success. Under the current economic conditions, the development of the intellectual factor is more effective than, for example, the capital-intensive improvement of the organization of the use of various outdated technologies. According to Peter Drucker, “No matter what material resources a system has, they do not multiply by themselves. Both the state and the firm are developed by the energy and intellect of the people who make them up.

Now the labor resources of the enterprise are increasingly considered as human capital. It should be noted that the concepts of "labor resources" and "human capital" are not synonymous. Labor resources can be converted into capital, but for this it is necessary to create conditions that provide the opportunity to realize human potential in the results of the organization's activities. That is, if a person is engaged in social production, and labor resources bring real income and create wealth, then they can be called capital.
The effectiveness of the development of an enterprise and the economy of states as a whole to a large extent depends on how much money and at what point in time they are directed to the development of human capital. This type of investment brings a significant in volume, long-term and integral in nature economic and social effect, therefore it is the most beneficial from the point of view of a person, an enterprise and the whole society as a whole. Thus, in the United States, according to some estimates, part of investment in human capital is more than 15% of GDP, which exceeds gross investment in houses, equipment and storage facilities.

According to the website auditfin.com, in developed countries, 60% of the increase in national income is due to the increase in knowledge and education of society. American scientists have calculated the value of GDP produced by workers with a duration of education of 10.5; 12.5 and over 14 years: it turned out that it is the third group (with education over 14 years) that provides more than half of GDP. Similar studies were carried out several years ago in Russia. According to Rossiyskaya Gazeta, the results were similar: people with higher education, who make up a quarter of the workforce, produced 56% of the value of the national income.

Currently, considerable attention is paid to the problem of formation, development and use of human capital. Such Ukrainian scientists as E.A. Grishnova, A.M. Kolot, V.N. Petyukh, V.M. Danyuk, V.I. Kutsenko, G.I. Evtushenko, T.I. Shparaga, Ya.M. Dutkevich, V.P. Antonyuk, I.N. Lashchenko, Yu.B. Skazhenik, A.V. Lokhmach and many others explore the essence of human capital and the specifics of its formation in Ukraine.

The emergence of the theory of human capital is associated with the scientific works of William Patty, Adam Smith, Alfred Marshall. The final formation of the theory of human capital refers to 50-60 years. XX century. The theoretical foundations were formulated by the American economist Theodor Schultz, and the basic theoretical model was developed by Gary Becker. Becker was the first to carry out a statistically objective calculation of the economic efficiency of the education process, defining the return on investment in education as the ratio of income to expenses. According to G. Becker, the efficiency is 12-14% of the annual profit.

According to the author, in order to determine the income from higher education, it is necessary to compare the incomes of people who graduated from college and those who graduated only from high school. At the same time, the expenses for education can, along with direct expenses, include the lost income by students during the years of study, which is measured by the value of the time they spent on education. Despite the presence of a large number of opponents, the theory of human capital is one of the main ones in the field of research on human resources.

One of the controversial issues is the formation of human capital. The definition of which is an important aspect in considering the entire system of human capital recovery. The formation of human capital should be studied as a process of searching, renewing and improving high-quality productive characteristics of a person with which he acts in social production. The factors on which the formation of human capital depends can be combined into the following groups: socio-demographic, institutional, integration, socio-mental, environmental, economic, production, demographic, socio-economic (Fig. 1) .

Fig.1: Groups of factors that form human capital

From this we can conclude that the category of human capital is a complex structurally systemic object of socio-economic research. O.A. Grishnova believes that human capital is an economic category that characterizes the totality of productive abilities formed and developed as a result of investments, personal traits and motivations of individuals that are owned by them, are used in economic activity, contribute to the growth of labor productivity and, due to this, influence growth. income (earnings) of its owner and national income.

Thus, human capital should be considered at the national, regional, sectoral levels, as well as at the level of an enterprise and an individual. At the macroeconomic level, human capital includes the contribution of the region, the country to the level of education, training and competence, health, and so on. This level consists of the total human capital of the entire population of a region or country. At the level of an enterprise, human capital represents the combined skills and productive abilities of all its employees. At the individual level, human capital is knowledge, skills, accumulated experience and other production characteristics acquired by a person in the process of study, training, practical experience with which he can earn income.
The American scientist J. Kendrick distinguishes between real and intangible forms of human capital. To the material capital embodied in people, he refers the costs necessary for the physical formation of a person, that is, the costs of raising children (excluding the costs of their education). J. Kendrick refers to intangible human capital the accumulated expenses for general education and special training, part of the accumulated expenses for health protection and the expenses for the movement of labor. He believes that the concept of "human capital" reflects not only a quantitative assessment of the qualification and educational potential, but also expands the boundaries of the concept of "capital", displaying all those working in the role of entrepreneurs who have property that makes a profit. In this interpretation, each worker who has a certain, growing level of education and practical experience becomes the owner of "individual capital", contributions to which increase his future income. With this approach, the fundamental line between social classes is erased, leaving only differences in the scale of entrepreneurial ownership, and not in the absence of such among workers. In this case, the role of entrepreneurship is constantly decreasing, and workers become the owners of an increasing part of the capital.

MM. Kritsky believes that human capital is carried out as an enrichment of the life of a person and society, based on the saving of direct labor. The basic law of the movement of human capital expresses the unity of saving labor and enriching this life activity. Human capital is the self-enrichment of people's life activity, which is realized as their life quality.

Understanding human capital as a set of socially expedient production knowledge, skills, abilities gives grounds for such important generalizations:

• human capital is a combination of natural abilities and human energy with acquired general educational and professional knowledge. Such unity occurs in the process of forming human capital through all types of acquiring new knowledge on the basis of certain investments;
• human capital should be considered at three levels: macroeconomic, enterprise level and individual level;
• human capital is divided into real and intangible forms. The material form of human capital is the cost of the physical formation of a person, and the non-material form includes the cost of education, health care and the movement of labor.

There is no unity in the views of researchers on the problem of the relationship between human capital and physical capital. One of the main problems of the present time is the distinction between the concepts of "human capital" and "labor force". Some consider these two concepts to be synonymous, others give definitions that are similar in content. According to O.F. Liskov, in order to form a labor force - a product that is put up for sale, an individual must select the necessary elements of human capital that are part of the labor force, that is, the labor force consists of some necessary elements of human capital.

Most of these features of physical and human capital, formulated by S.A. Woodpecker, fair:

• human capital takes the form of variable capital and interacts with physical capital as part of the total productive capital;
• both capitals must correspond to each other, that is, complex and expensive equipment must be managed by highly qualified specialists, who in turn are highly paid;
• the formation of both requires significant expenditures and the diversion of funds from current consumption;
• investments in both physical and human capital can lead to accumulation;
• human and physical capital have a monetary value.

There are a number of analogies between human and physical capital. For example, both bring income to the owner, both are integral components of economic growth. Investment decisions and their consequences are analyzed in the same way for both physical and human capital.

Russian economist A.F. Lyskov notes that the most important property of human capital is its dynamic nature. Elements are constantly added to human capital under the influence of certain circumstances, and the value of existing ones decreases, increases or is completely removed. This is how the value of human capital itself changes. Often, only positive dynamics of human capital is considered, but negative dynamics also have an impact on the production process and on the success of the enterprise as a whole. Another feature of human capital is the nature of the risk that an entrepreneur takes on when buying labor.

Other Russian scientists believe that human capital has a dual character. In a broad sense, it should be considered as a socio-economic form of the existing quality of human potential on the scale of a particular society. In a narrow sense, this is that part of it that is productively used by entrepreneurs to make a profit and bears the signs of K. Marx's variable capital. The theory of human capital divides it into two types: general and specific. The general capital consists of the general training of the worker, allowing him to work in different profiles in many enterprises, paid by himself. Specific capital is training that is directly related to the activities of a particular enterprise and is paid for by it.

When an employee is released, both parties suffer losses: the company wasted money on training, and the employee will not be able to transfer the acquired knowledge to another organization. It is important for an employee to stay at the enterprise, because when changing jobs, he will have to master specific training from scratch. The enterprise, in turn, clings to the employee, because there is no such specific resource in the labor market. A striking example of specific human capital are workers in a knowledge-intensive industry, such as nuclear and aircraft manufacturing. Therefore, the closure of such an industry leads to the depreciation of specific human capital.

Human capital is also classified into forms:

• living capital contains knowledge, health, embodied in a person;
• non-living capital, which is created in cases of the embodiment of knowledge in physical and material forms;
• institutional capital is institutions that contribute to the effective use of all types of human capital.

Human capital, being part of total capital, represents the accumulated costs of general education, special training, health care, and the movement of labor.

There is a classification by types of expenses, investments in human capital. I.V. Ilyinsky identifies a classification by type of expenditure and investment in human capital, divided into the following components: education capital, health capital and cultural capital. Health capital is an investment in a person, carried out with the aim of forming, maintaining, improving and strengthening his health and performance. It is the basis for human capital in general. Educational capital consists of the cost of a person's education, starting with general secondary education and continuing with work-based learning. Cultural capital refers to the costs of constantly raising the cultural level of a person.

There are two types of capital according to the form of consumption:

• consumer - created by the flow of services consumed directly (creative and educational activities);
• productive, consumption that contributes to social utility (the creation of means of production, technologies, productive services and products).

It should also be borne in mind that in the theory of human capital the concept of “capital” is interpreted differently than in the methodology of K. Marx, who wrote that “capital is not a thing, but a certain, social production relation belonging to a certain historical formation of society, which represented in a thing and gives this thing a specific social character. In Marxist theory, this concept is considered on the basis of social class positions, as a relationship of ownership and control over the means of production. In classical English political economy, the concept of capital combined two aspects: firstly, control over the factors of production and, secondly, the right to receive future income. Neoclassical theory associates the concept of capital with the ability to generate income.

The relationship between human capital and capital can be traced through the concepts of labor force and variable capital, which is directed by the entrepreneur to acquire labor force. The labor force is that part of human capital that an individual is willing to sell to an entrepreneur in order to receive from the latter the means of subsistence for himself and his family in the form of wages. K. Marx believed that "becoming a commodity, labor power, like any other commodity, has two properties: value and use value." The first is interesting for the worker, because this is the price of labor power, which is equal to the value of his wages. The second is of interest to the employer, since it is with the help of the productive consumption of labor that the added value is created, which is appropriated by the entrepreneur.
Proponents of the theory of human capital on the example of education justify the growing cost of capital: if an increase in the educational level of an employee entails additional earnings that exceed the cost of training, then the cost of education is characterized as an investment in human capital. Critics of the theory of human capital believe that there is no self-growing value, that is, capital. This is justified by the fact that a necessary condition for increasing the cost of qualification is the work of the employee himself, it does not grow by itself.

At present, the role of science and education is growing, the importance of intellectual activity in all spheres of production is increasing. Intellectual labor, which is the activity of people in the production, assimilation and practical application of knowledge, has gained a dominant position. This process manifests itself in two ways: the role of such branches of the social sphere as education and science is growing; the importance of intellectual activity within other branches of the national economy is growing. These trends contribute to the formation and improvement of the educational, professional, scientific, spiritual potential of society and are the most important factors in socio-economic progress. At the beginning of the 20th century, according to A. Marshall, the number of manual workers was five times higher than the number of those employed in intellectual labor. Now in developed countries, more than 60% of the economically active population is engaged in mental work, and in the USA - 75%.
Very convincing factual data on cardinal shifts in the proportions of capital investments that have occurred over the past centuries are cited in V. Shchetinin's article "Human capital and the ambiguity of its interpretation." If in the XVII-XVIII centuries. in the total mass of capital, the share of human capital did not exceed 10%, then by 1913 it had risen to almost 33%. But even these proportions changed dramatically in the second half of the 20th century. and especially in the last two decades in connection with the information revolution. In Western countries, the share of accumulated investments in human capital in the total fund of their capitalized development expenditures rose, according to minimal estimates, to 56-57% in 1973 and 67-69% (in the USA to 74-76%) in 1997-1998 gg. (Table 1).

Table 1 - Change in the structure of total capital in Western countries.

The undoubted merit of human capital theorists is the recognition of the primary role of man in social production. This is due to the strengthening of the role of education, which is becoming the main resource and source for the formation of a highly developed workforce. It should be noted that domestic enterprises currently have at their disposal a fairly high potential of human capital. In 2002, 25.5% of all workers in Ukraine graduated from universities of I-II levels of accreditation, another 22.6% graduated from universities of III-IV levels of accreditation, in industry the proportion of such workers was 25 and 15.1%, respectively.
The theory of human capital can be applied as an analytical tool in identifying the economic efficiency of education. Proponents of this theory have clearly defined its individual economic effect for the individual. The main result of the economic return of education is an increase in the income of an employee due to an increase in his educational and professional level. Human capital theorists are based on the fact that differences in earnings reflect differences in labor productivity. Educational income is calculated as the difference in lifetime earnings of those who have unequal education. In addition to direct expenses, education expenses also include lost income. This is the potential earnings that a person could receive if he worked, and did not study.

The theory of human capital has gained significant public distribution and recognition in world scientific thought. Scientific research is constantly carried out and many scientific publications are published on these issues. Unfortunately, today the issues related to the study of the problems of formation, preservation and improvement of the efficiency of the use of the human capital of Ukraine are among the most unexplored in the general structure of economic science.

There is now a need for a comprehensive lifelong learning strategy consisting of early childhood education, primary education, an improved school-to-work transition system with stronger links between education and the labor market, and effective learning systems, which provide the opportunity to stay in the field of education throughout life. However, in order for this to become feasible, continuous investment in human capital is needed, both at the individual level and at the level of the enterprise and the state.

The division of investment in human capital at the individual level, at the level of the enterprise and the state is also advisable due to the fact that the degree of underinvestment at these levels is different. By nature, a person is, on the one hand, a physical being, and on the other hand, a social being. Because of this, he acts as a carrier of both certain natural individual abilities and talents that he possesses from birth and that nature has endowed him with, and the accumulated knowledge, skills, skills acquired in the process of social life and due to the costs of certain physical, material and financial resources.

The natural abilities of a person and acquired social qualities are similar in their economic role to natural resources and physical capital. This is manifested in the fact that in its original state, a person, like natural resources, does not bring any economic effect. But after the implementation of certain expenses and preparation, an individual human capital and a set of individual competencies are formed, which can subsequently potentially generate income, like physical capital.
Individual human capital will generate income only if a person has the opportunity to engage himself in social production by organizing his own activities or selling his labor force to an entrepreneur. This justifies the expediency of using individual human capital. For the transformation of individual human capital into production, it is necessary to determine the conditions that would ensure the realization of human potential in the results of its activities.
Getting an education and starting a job is the initial stage in the formation of individual human capital. The next stage is longer. It is based on the acquisition of professional qualifications and life experience. Human capital is intangible durable goods that are accumulated and realized as a result of the production activities of people over time. The most important feature of capital is that it is itself a product of production. Human capital as a product of production is the knowledge, skills and abilities accumulated in the process of training and work. Human capital, like any other, can accumulate. The accumulation of human capital begins with preschool education and continues throughout social activity.

The main tool for the formation of human capital, both at the individual level and at the level of the enterprise and the state, is investing in a person. Investments in human capital are all types of investments in a person that can be valued in monetary or other form and are expedient, that is, they contribute to the growth of labor productivity and income at all three levels. Current expenditures are carried out with the expectation that they will be repeatedly compensated by higher income levels in the future.

Of all the types of investment in human capital, the most important are investments in health care and education, as well as in continuing vocational training. Health care spending, which includes health care, lifestyle improvements, and others, creates conditions for improving the quality and efficiency of human capital use. A feature of such investments is that they contribute to a better perception of knowledge, skills and abilities and, accordingly, contribute to an increase in human productivity. General and vocational education, in turn, improves the quality and level of human knowledge, and, consequently, improves the quality of human capital in general.

In comparison with investments in other forms of capital, investments in human capital are the most beneficial from the point of view of both an individual and society as a whole, since they bring a fairly significant in volume, long-term and integral economic and social effect.

Investment is an important prerequisite for the formation of human capital, but is not yet development. The development of human capital occurs both in the process of initial investment and subsequent investment, which occurs in the process of human practical activity. That is, the development of human capital is the process of creating a person's productive abilities with the help of investments in specific processes of his activity.

It should be especially noted that personal motivation is a very important and necessary condition for the process of circulation of human capital (Fig. 2) to be complete. Thanks to this process, a qualitative renewal of human capital occurs through the emergence of new market needs for the production of goods that are constantly growing and require new competencies, in which the increase in the level of knowledge and practical skills of people is accompanied by the development of opportunities for their practical implementation. Due to this, individual incomes increase, and the national income of the country grows.

Effective career management requires the availability of the necessary information about what happens to employees at different stages of their career. For this, special studies can be carried out at the enterprise, the results of which are drawn up in the form of a career chart, which makes it possible to track the work biography of the employee.

Each stage of an employee's career is connected not only with the level of the position, but also with a certain stage in life. Scientists distinguish such stages of a working career: previous, formation, promotion, preservation, completion and retirement.

The previous stage (up to 25 years) is associated with obtaining a secondary or higher education, a profession. During this period, a person can change several activities in search of the most suitable one that would satisfy all his needs. If such activity is defined, the process of self-affirmation of the employee as a person begins.

Formation (25-30 years) is the period of mastering the acquired profession, acquiring experience and skills. At this stage, qualifications are formed, the need for independence arises, a family is created that stimulates the employee to increase income.

Promotion stage (30-45 years). During this period, there is a process of growth, promotion, the process of self-expression begins, the need for self-affirmation, the achievement of a higher status and level of remuneration grows.

The preservation stage (45-60 years) is characterized by the actions of consolidating the achieved results, the highest level of improvement of qualifications, knowledge, skills, experience, mastery comes, the beginning of respect, the need for self-expression grows. A person reaches the heights of independence and self-affirmation.

The final stage (60-65 years) is the search for a replacement, the transfer of knowledge and skills to young people, and preparation for retirement. Self-expression stabilizes, respect grows, interest in other sources of income increases.

Retirement stage (after 65 years) - retirement, preparation and conduct of a new type of activity, self-expression in a new field of activity, stabilization of respect, health care, pension amount.

Let us analyze the stages of the labor career of an employee of our enterprise, Table. 2.

Table 2 - Career of the head of the financial and economic department of our enterprise

date of receipt	Working hours	Position	Age, years	Company name
	2 months, 1 day	car mechanic		Donetsk section of transport mechanization "Donbassantekhmontazh"
	4 years, 11 months			Donetsk Polytechnic Institute
	1 month 8 days	miner's apprentice		Mine administration. newspaper "Socialist Donbass"
		Drifter's Apprentice		Mine them. A.B. Batova
		Drifter 5th category		Mine them. A.B. Batova
	5 months, 13 days
		loan inspector		Donetsk branch of Joint Stock Bank "INKO"
		And about. Head of Economic Analysis Department		Donetsk branch of Joint Stock Bank "INKO"
	8 months, 20 days	Head of Consolidated Economic Reporting Department		Donetsk branch of Joint Stock Bank "INKO"
	5 months, 11 days	Economist-head of the credit department		CB "Privatbank"
		Lead Economist		CB "Privatbank"
	1 year, 9 months, 18 days	Head of Correspondent Relations Department		CB "Privatbank"
	1 year, 3 months, 17 days	legal adviser		CJSC "Valentin"
	2 years, 7 months, 5 days	Head of Natural Gas Supply Department		CJSC "Valentin"
	4 months, 18 days	And about. director of economics		State enterprise "Luganskugol"
	1 month, 28 days	Economics and Marketing Director		Association "Ukrogneupor"
	1 year, 5 months, 10 days	Deputy Director for Economics		State enterprise "Donteplomash"
	2 years, 9 months, 17 days	Head of Financial Department		Our company
	1 year, 9 months	Head of Financial and Economic Department		Our company

A career chart is a career management tool that is a graphical description of what should happen or happens to people at different stages of a career.

On the basis of the work book of an employee of our enterprise, it has been established that his labor career is a model of a "springboard" within a certain enterprise. Figure 3 allows us to conclude that the main reason for demotion at certain stages of labor activity is the transition to other enterprises.

The period of a working career is the first before the start of studies at the institute and the employment of low-paid professions is due to the young age of the worker, industrial adaptation, secondary education and insufficient knowledge and skills in work. Work in such positions as a miner's apprentice, a drifter of the 5th category is due to training at the Donetsk Polytechnic Institute and the internship for workers. The position of acting head of the economic analysis department, which the employee has held since the age of 23, characterizes the beginning of self-assertion and the process of completing production adaptation. Since the employee holds the position of head of the financial and economic department at the age of 38, it can be judged that this is not yet the highest possible level of his professional development. Until the age of 45, he has the opportunity to grow up to the position of director through the ranks.

As shown in fig. 4, the employee whose career we are analyzing, before taking the position of the head of the financial and economic department of our enterprise, changed several positions and enterprises. Ukrainian scientists offer an indicator to reflect the promotions received by an employee within a particular enterprise. In view of the fact that the number of promotions in itself does not indicate anything, it is worth correlating it with the time during which a person works. We get the following expression for this indicator:

where Р is an indicator of the rate of increases that the employee received;
m - the number of promotions that the employee received at the enterprise;
t is the time during which the employee is engaged in labor activity at this enterprise, years.

Consequently, the employee whose career is being analyzed has changed eleven enterprises during his career. At some, he did not receive a single increase, therefore, the indicator for other enterprises should be calculated using the above formula (Table 3).

Table 3 - Calculation of the rate of promotions that the employee received

Thus, the calculations show that the most effective career in terms of the speed of advancement of this employee is observed at the enterprise Donetsk branch of the Joint Stock Bank "INKO", where the calculated increase rate is the highest in comparison with others and is equal to 1.28. However, the figure shows that from the point of view of the achieved social status of the director for economics and marketing, and, consequently, the level of wages, a labor career at the Association "Ukrogneupor" is more effective. Therefore, when calculating the effectiveness of a career, it is necessary to take into account various factors, such as the level of wages, the social status of the employee, the employee's own life value orientations, and his worldview. This is due to the fact that the employee compares his career not only with career advancement, but also with life goals for the future.

Vocational training of employees is a multifunctional process that affects all components of an enterprise's activities. Directly on the scale, course and results of training depend on:

• current and future results of the enterprise;
• current and future costs associated with the activities of the enterprise;
• the level of risk of incompetent actions of personnel during the work of the enterprise.

The result of the activity of the vocational training system is not unambiguous, therefore, it is necessary to assess the economic efficiency of vocational training of employees. Possible goals for calculating the economic efficiency of the vocational training process are:

• determination of the optimal amount of training costs as part of the total production costs;
• making decisions regarding the forms and methods of teaching;
• comparison of different options for technologies and instrumental base of training;
• comparison of the economic efficiency of training with the economic efficiency of other possible investments of the enterprise's funds, which provide a commensurate increase in the efficiency of the main production.

The economic efficiency of any vocational training activities can be determined by the ratio between indicators that describe the result of the enterprise's activities after the start of the activities, and indicators that characterize the full costs associated with the activities of the enterprise for the same period.

Cost indicators in assessing economic efficiency in practice are selected so that they can be summarized, that is, reduced to one point in time and adjusted for the share of the analyzed activity in the total costs. In this case, the indicator of the economic efficiency of the measure is the difference between the value of its contribution to the increase in the result of the enterprise's activity and the value of expenses. The economic efficiency of vocational training is determined by the ratio between the total costs of organizing and conducting the educational process and the financial results of training, expressed by an increase in the results of the enterprise, an increase in its potential, a decrease in the costs of ensuring the functioning of the enterprise, and a decrease in the risk level of its functioning.

The relationship between the learning process and the change in the performance of the enterprise is expressed by a number of factors that reflect the change in motivation, functional behavior and social relationships of employees who have been trained. The results of the implementation of the personnel training system can include:

• increase in the volume of services provided as a result of meeting the additional need for workers in professional and qualification sections;
• reduction in the cost of work performed;
• improving the quality of services provided;
• reduction in the level of staff turnover as a result of professional training of personnel;
• the effect of the introduction of inventions and rationalization proposals of employees who have been trained according to the curriculum;
• increasing the speed of work of trained workers;
• reducing the duration of the analysis and assessment of the situation;
• expanding horizons, increasing the number of options considered when making decisions by managers and specialists, which affects the optimality of decisions made;
• reduction of losses from inaccurate assessment of the situation and incorrect actions of employees, which is associated with the consolidation of skills in more competent management of technical systems in the learning process;
• prevention of loss from the unforeseen occurrence of undesirable events and situations, limiting the spread of so-called "chains of undesirable developments";
• reducing the likelihood of accidents and breakdowns of equipment, threats to life and health of people;
• strengthening the corporate consciousness of employees, convergence of personal interests of employees with the interests of the enterprise;
• exchange of information between employees of different enterprises who are trained together, dissemination of best practices and other innovations;
• increasing the likelihood of coordinated conscious joint activity and decision making.

Improvement in the quality of work can be assessed:

• reduction in the number of erroneous actions of one employee during the year, associated with learning outcomes;
• the costs of eliminating the consequences of the employee's erroneous actions.

The increase in the number of action options is estimated by the change in the number of action options for one employee, which is associated with the passage of training and the average contribution from the implementation of each option to the result (income) of the training system.

The overall effect of all groups of factors is measured by the increase in the result of the enterprise's activity (income).

Thus, the evaluation of the economic efficiency of professional training of the personnel of our enterprise was carried out using the net present value method.
The discounting method is used to bring income and expenses to one moment of labor. The calculation of income from investments in human capital provides for their progressive discounting, comparing them with current expenses. Because the incomes that will be obtained in the future are always of less value to people compared to those that are obtained today.

Net present value is considered a criterion for the feasibility of an investment project in human capital and is calculated by the formula:

where NPV is the net present value of human capital, UAH;
Bt – income from investments in human capital in period t, thousand UAH;
Сt - the amount of expenses in the period t, thousand hryvnias;
n is the number of periods;
і - interest rate index, or discount rate.

An investment in human capital is profitable if the net present value of capital is greater than or equal to zero. If NPV=0, the investor only recovers his expenses. The higher the net present value of human capital relative to zero, the more efficient the investment is.

Let's consider investments in human capital, which were invested by our company in 2007 and 2008 and planned for 2009 (Table 4).

Table 4 - Indicators of economic efficiency of professional training of the personnel of our enterprise for 2007-2009.

Indicator
Expenses for study, thousand hryvnias
The period of influence of studies on the economic results of the enterprise, years
Income from investments in studies in the first year, thousand UAH.
Income from investments in studies in the second year, thousand UAH.
Income from investments in studies in the third year, thousand UAH.
Discount rate %
Discount for the cost, thousand UAH.

The difficulty of applying this method in practice is the choice of the percentage level - the discount factor. In a market economy, this value is determined based on the deposit interest on deposits. In practice, it is taken higher than this value due to inflation and the risk associated with investments.

In our case, the discount rate was 10%, which is considered fair for equity. Therefore, we trace the dependence of the net present value on the size of the established interest rate. To do this, we perform the calculation of the net present value at different values ​​of the discount rate, Table. five .

Table 5 - The cost of human capital and the interest rate of our enterprise in 2007 and 2008

Based on the calculations given in Table 5, a graph of the dependence of the net present value on the discount rate was constructed, fig. five.

Therefore, as the graph shows, investment projects in the human capital of our company, which were implemented in 2007 and 2008 and planned for 2009, are minimally profitable at a discount rate of 90%, that is, at such a rate percent, the efficiency of projects reaches its limit, and the company only reimburses its costs from staff training. Under the conditions, if the discount rate exceeds 90%, it would be advisable to refuse investment projects in vocational training.

Summarizing the above, the following conclusions can be drawn:

1. Human capital is a combination of natural abilities, acquired knowledge, skills in the process of production activities, as well as mobility, motivation and physical condition of a person. In other words, human capital is such a set of competencies that is expediently used by a person in one or another area of ​​social reproduction and contributes to the growth of labor productivity and production efficiency.
2. The development of human capital occurs throughout the entire social activity of a person through constant investment both at the individual level and at the level of the enterprise and the state.
3. Investments in human capital are the most profitable, in comparison with other forms of capital, since they bring a fairly significant in volume and long-term economic and social effect.

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• HR Policy and HR Strategies

Keywords:

1 -1

Currently, in the theory and practice of human capital (HC), a distinction is made between individual, corporate and national human capital.

Individual human capital is the accumulated stock of special and special knowledge, professional skills of an individual, allowing him to receive additional income and other benefits compared to a person without them.

Corporate human capital- accumulated by the company special and special in comparison with competitors individual human capital, know-how, intellectual capital, special management and intellectual technologies, including computer and information technologies that increase the competitiveness of the company.

- this is a part of the innovative (creative) labor resources, leading specialists, accumulated knowledge, the accumulated innovative and high-tech share of national wealth, the innovation system, intellectual capital, social capital, as well as the quality of life, which together ensure the development and competitiveness of the innovative part of the economy of the country and the state in world markets in the context of globalization and competition /1-4/.

Narrow and broad definition of human capital

There are several definitions of human capital: narrow (educational), extended and broad /1-8/. As already noted, the socio-economic category of "human capital" was formed gradually. And at the first stage, only investment in special education (narrow definition of HC) was included in the HC. Sometimes narrowly defined human capital is referred to as educational HC.

At the second stage, the HC (expanded definition) gradually included (this was done, among other things, by experts from the World Bank when assessing the HC and the national wealth of the countries of the world) investments in education, education, science, people's health, information services, culture and art.

At the third stage of the development of the socio-economic category HC, investments were added in components that ensure the safety of people (separated from the quality of life of the population due to its particular importance, especially for Russia and other developing countries). In the preparation of an effective elite, in the formation and development of civil society (CS). In improving the efficiency of HC institutional services, as well as investing in improving the quality of life and in the inflow of capital from outside into the country.

In a broad definition, national human capital is culture, knowledge, health, professionalism, law-abiding and innovative creativity of specialists, their social capital, as well as a high quality of life and work..

The basic component of HC is the mentality of the people /1,2/, including traditions and culture, attitude to work, family, law-abiding. They have historically been significantly influenced by religions. The determinants of HC are upbringing, education, health, accumulated knowledge, science, quality of life, competition and economic freedom, the rule of law and rights, security, mobility and creativity of business and citizens.

HC is a synthetic and complex socio-economic category at the intersection of various disciplines and sciences: economics, psychology, sociology, computer science, history, medicine, pedagogy, philosophy, political science and others.

The core of the national HC is made up of the best and world-class competitive specialists who determine the growth and efficiency of the use of knowledge and innovation, the efficiency of the entrepreneurial resource, the size and efficiency of the innovative sector of the economy.

For the integral efficiency of HC, all its components are important. The low quality of any of them reduces the overall quality of HC. In this case, negative synergistic and multiplicative effects of weakening the effectiveness of HC work with a decrease in the effectiveness or quality of any component, as is currently the case in Russia.

In the modern economy, the creative part of the labor force (the creative class) is the core of the accumulated national human capital (HC).

It also includes a qualified part of the labor force, which ensures the effective functioning of the HC, the environment for its functioning and tools for intellectual work. The performance of HC is fundamentally determined by the culture and associated work and entrepreneurial ethic.

From the point of view of the innovation economy, development processes and GDP, human capital can be defined as follows:

Human capital - this is a part of creative labor resources (creative class), their high-quality material support, accumulated high-quality knowledge, intellectual and high technologies, which annually create a share of innovative and science-intensive products in GDP that is competitive on world markets.

The value of accumulated HC is calculated in this case by summing the shares of innovative products, services, and science-intensive products in GDP over the average working life of a generation (for Russia, 30 years).

Human capital in terms of value is the share of the innovative economy and its provision in the overall economy of the country.

This approach makes it possible to quantify the national human capital by using integral country international indicators, which, on the one hand, simplifies the calculations, and, on the other hand, makes them more reliable.

At all levels of human capital - individual, corporate and national, it is based on special, specific knowledge, skills and technologies that determine the competitive advantages of human capital of the corresponding level.

At all levels of human capital, it also includes additional qualified labor resources, quality of life, tools and technologies that ensure the realization of the competitive advantages of the national HC, the effective functioning of the HC as an intensive factor in innovation, intellectual work and development.

National human capital

The composition of the national human capital includes, in addition to the national components, corporate and individual human capital, as well as human capital of households /1-4/.

National human capital is formed through investments in upbringing, education, culture, health of the population, in improving the professionalism, level and quality of life of the population. In science, knowledge and intellectual capital, in social capital, in entrepreneurial ability, in information support and security of citizens. In economic freedom in its international definition, in the tools of intellectual labor, in the environment for the functioning of human capital as a factor in the development of the economy and society.

In this case, social capital is understood as connections, relationships and support from other people of a specialist, contributing to an increase in the efficiency of his intellectual labor activity.

Human capital as a store of knowledge, skills, experience, high, managerial and intellectual technologies, software for information flows in the form of knowledge, material support for a high quality of life and work can not only accumulate in the process of investment, but also materially and morally wear out.

That is, in a simplified sense, the concept of "depreciation" is applicable to HC.

Human capital is an intensive development factor and the law of diminishing returns does not apply to it with a correctly chosen strategy for the development of HC, the economy, statehood and civil defense.

As part of the national wealth of developed countries, HC prevails in terms of its share (value).

Human capital is an intensive synthetic and complex productive factor in the development of the economy and society, including creative labor resources, an innovative system, high-performance accumulated knowledge, systems for providing professional information, tools for intellectual and organizational work, quality of life, habitat and intellectual activity that ensure the effective functioning of HC and its high performance.

Briefly: Human capital is creative professionals, intelligence, knowledge, high-quality and highly productive labor and high quality of life.

The dominance of corruption and crime devalues ​​knowledge, suppresses the creativity and creative energy of people, reduces the quality, efficiency and accumulated value of HC. Turns synergy into a negative development factor, into its brake.

In a criminalized and corrupt country, HC cannot function effectively by definition. Even if it is an "imported" external high-quality Cheka, provided by its inflow. It either degrades, getting involved in corruption and other counterproductive schemes, or “works” inefficiently.

Finland, based on the theory and practice of human capital, in a historically short period of time has managed to move from a primarily resource-based economy to an innovative economy. And to create our own competitive high technologies, without giving up the deepest processing of our main natural wealth - the forest. Finland has managed to reach the forefront of the world in terms of the competitiveness of the economy as a whole. Moreover, the Finns created their innovative technologies and products on the income from timber processing into goods with high added value. They did not store their income as a dead weight in the form of reserves in US and European banks in reserve, but invested it in their people, improving their health, education, increasing their creativity and quality of work. We invested in infrastructure, improving the quality of life, in HC and the economy, in new high technologies.

All this took place not because the theory and practice of HC realized a kind of magic wand, but because it became the answer of economic theory and practice to the challenges of the time, to the challenges of the knowledge economy emerging in the depths of the post-industrial economy in the second half of the 20th century.

The development of science, the formation of the information society to the fore as components of a complex intensive development factor - human capital, have brought forward knowledge, education, health, the quality of life of the population and the leading specialists themselves, who determine the creativity and innovation of national economies.

Huge advantages in creating stable conditions for the growth of the quality of life, the creation and development of the knowledge economy, the information society, the development of civil society have countries with accumulated high-quality human capital.

That is, countries with an educated, healthy and optimistic population, competitive world-class professionals in all types of economic activity, in education, science, management and other areas.

The choice of HC as the main development factor for a developing country literally dictates a systematic and integrated approach in the development of the concept and strategies of both human capital itself and a new paradigm, concept and strategy for the development of the country. It requires linking all other strategic planning documents with them.

This dictate follows from the essence of the national Cheka as a synthetic and complex factor of development. Moreover, this dictate emphasizes the high quality and productivity of labor, the high quality of life, work and tools of specialists that determine the creativity and creative energy of HC.

An analysis of the processes of scientific and technological development shows that HC, the cycles of its growth and development are the main factors and drivers of the generation of innovative waves of development and the cyclical development of the world economy and society.

Gradually knowledge accumulated. Education and science developed on their basis. A layer of highly professional scientific, technical, managerial and, in general, intellectual elite was formed, under whose leadership another breakthrough was made in the development of the country.

Moreover, the level and quality of HC determine the upper bar in the development of science and economics. And without raising the quality of the national HC to the level required by the innovative economy of quality and work ethics, it is impossible to jump into the innovative economy of the corresponding TUE and, moreover, into the knowledge economy.

At the same time, the share of unskilled labor in the GDP of developed and developing countries is decreasing, and in technologically advanced countries it is already vanishingly small. Any work now in a civilized country requires education and knowledge.

The driver for the development of HC and the innovative economy is competition in all types of activities.

Competition forms and selects the best specialists, effective management, improves the quality of HC.

Competition stimulates entrepreneurs and management to create innovative products and services. Free competition, economic freedom in its international definition are the main stimulators and drivers of the growth of the quality and competitiveness of the national HC, the growth of knowledge production, the generation of innovations and the creation of effective innovative products.

Human capital- assessment of the potential ability embodied in the individual to bring income. Includes innate abilities and talents, as well as education and acquired qualifications.

Are you sure you're human?

The concept of human capital was developed by American scientists, Nobel Prize winners in economics Gary Becker And Theodor Schultz. They showed that investing in human capital can give a high economic effect and that in recent decades they have increasingly determined the development of the economy, especially in industrialized countries.

Human capital- a set of knowledge, skills, skills used to meet the diverse needs of a person and society as a whole. The term was first used by Theodor Schultz, and his follower, Gary Becker, developed this idea, substantiating the effectiveness of investments in human capital and formulating an economic approach to human behavior.

Initially, human capital was understood only as a set of investments in a person that increases his ability to work - education and professional skills. In the future, the concept of human capital has expanded significantly. The latest calculations made by the World Bank experts include consumer spending - the cost of families for food, clothing, housing, education, health care, culture, as well as government spending for these purposes.

Human capital in a broad sense, it is an intensive productive factor of economic development, the development of society and the family, including the educated part of the labor force, knowledge, the tools of intellectual and managerial work, the environment and labor activity that ensure the effective and rational functioning of human capital as a productive development factor.

Briefly: Human capital is intelligence, health, knowledge, high-quality and productive work and quality of life.

Human capital- the main factor in the formation and development of the innovation economy and the knowledge economy, as the next highest stage of development.

One of the conditions for the development and improvement of the quality of human capital is a high index of economic freedom.

The classification of human capital is used:

1. Individual human capital.

2. The human capital of the firm.

3. National human capital.

In the national wealth, human capital in developed countries is from 70 to 80%. In Russia, about - 50%.

The concept of human capital is a natural development and generalization of the concepts of the human factor and human resource, but human capital is a broader economic category. The founders of the theory of human capital (HC) gave it a narrow definition, which has expanded over time and continues to expand, including all new components of HC. As a result, HC has become a complex intensive factor in the development of the modern economy - the knowledge economy.

Currently, on the basis of the theory and practice of human capital, a successful paradigm for the development of the United States and leading European countries is being formed and improved. Based on the theory of the Cheka, which was lagging behind, Sweden modernized its economy and returned its leadership position in the world economy in the 2000s. Finland, in a historically short period of time, has managed to move from a predominantly resource-based economy to an innovative economy. And to create their own competitive high technologies, without giving up the deepest processing of their main natural wealth - the forest. Managed to reach the first place in the world in terms of the competitiveness of the economy as a whole. Moreover, the Finns created their innovative technologies and products on the income from timber processing into goods with high added value.

All this took place not because the theory and practice of human capital realized a kind of magic wand, but because it became the answer of economic theory and practice to the challenges of the time, to the challenges of the innovative economy (knowledge economy) emerging in the second half of the 20th century and venture science. -technical business.

The development of science, the formation of the information society to the fore as components of a complex intensive development factor - human capital - have brought knowledge, education, health, the quality of life of the population and the leading specialists themselves, who determine the creativity and innovation of national economies.

In the context of the globalization of the world economy, in the conditions of free flow of any capital, including HC, from country to country, from region to region, from city to city in the conditions of intense international competition, the accelerated development of high technologies.

And huge advantages in creating stable conditions for the growth of the quality of life, the creation and development of the knowledge economy, the information society, the development of civil society have countries with accumulated high-quality human capital. That is, countries with an educated, healthy and optimistic population, competitive world-class professionals in all types of economic activity, in education, science, management and other areas.

Understanding and choosing human capital as the main development factor literally dictates a systematic and integrated approach in developing a development concept or strategy and linking all other private strategies and programs with them. This dictate follows from the essence of the national Cheka as a multicomponent development factor. Moreover, this diktat emphasizes the conditions of life, work and the quality of the tools of specialists that determine the creativity and creative energy of the country.

The core of the Cheka, of course, was and still is a man, but now he is an educated, creative and enterprising person, with a high level of professionalism. Human capital itself determines in the modern economy the main share of the national wealth of countries, regions, municipalities and organizations. At the same time, the share of unskilled labor in the GDP of developed and developing countries, including Russia, is getting smaller, and in technologically advanced countries it is already vanishingly small.

Therefore, the division of labor into unskilled labor and labor requiring education, special skills and knowledge is gradually losing its original meaning and economic content when defining human capital, which the founders of the human capital theory identified with educated people and their accumulated knowledge and experience. The concept of human capital as an economic category is constantly expanding along with the development of the global information community and the knowledge economy.

Human capital in a broad definition is an intensive productive factor in the development of the economy, society and the family, including the educated part of the labor force, knowledge, tools for intellectual and managerial work, the environment and labor activity that ensure the effective and rational functioning of human capital as a productive development factor.

Human capital is formed through investments in improving the level and quality of life of the population, in intellectual activity.

Including - in upbringing, education, health, knowledge (science), entrepreneurial ability and climate, in the information support of labor, in the formation of an effective elite, in the security of citizens and business and economic freedom, as well as in culture, art and other components. The Cheka is also formed due to the influx from other countries. Or it decreases due to its outflow, which is observed so far in Russia.

IN composition of human capital includes investments and returns from them in the tools of intellectual and managerial work, as well as investments in the environment for the functioning of the human capital, ensuring its effectiveness.

Komarova A.S.

Formation of the concept of "human capital"

The concept of human capital occupies one of the central places in the modern consciousness of society. Technological progress is increasingly being introduced into people's lives, therefore, more and more requirements are placed on a person, his education, and qualifications. Questions about the role of man in production, the method of production, the transfer of knowledge, etc., are becoming increasingly relevant.

The economic category "human capital" was formed gradually. At first, this meant knowledge and the ability of a person to work. So in the 17th century one of the founders of classical political economy in England, W. Petty, tried to assess the monetary value of the productive properties of a person's personality. According to him, the wealth of society depends on the nature of people's occupations and their ability to work. Later, many other scientists dealt with the consideration of “human capital in their works, for example, this was reflected in the works “The Wealth of Nations” (1775) by the Scottish economist, one of the founders of modern economic theory Adam Smith, “Principles of Economic Science” (1890-1891) by the English economist , the founder of the neoclassical trend in economics Alfred Marshall.

In the future, the concept of human capital has expanded significantly. Analysis of statistical data on the growth of the economies of the developed countries of the world in the middle of the 20th century.

Human capital

gave impetus to the development of the theory of human capital.

So the American economist of Russian origin V.V. Leontief (1905-1999), 1973 Nobel Prize in Economics "for his development of the input-output method", studied US imports and exports of goods. The conclusions of his work were as follows: the labor intensity of goods imported by the United States is quite high, but the price of labor in the cost of goods is much lower than in US exports. The capital intensity of labor in the United States is significant, together with high labor productivity, this leads to a significant impact on the price of labor in export deliveries. The analysis of human capital became popular after the publication of Leontiev's work and received a comprehensive development in the works of Schultz in 1961 and Baker in 1964.

The foundations of the theory of human capital were laid by the American economist, Nobel Prize winner Theodor Schultz (1902-1998). He introduced the concept of "human capital" (Human Capital) into the scientific literature, which he understood as "a set of knowledge, skills, and abilities used to meet the diverse needs of a person and society as a whole." In his publications The Emerging Economic Scene and School Education, The Creation of Capital by Education, etc., Schultz developed a basic theoretical model for the theory of human capital. Gradually, his concept that investment in education (i.e., human capital) is the decisive factor became widespread. By investing in human capital, he understood investments in education in educational institutions, enterprises, as well as investments in healthcare, education and science.

Nobel Prize Winner 1992 Harry Becker was the first to transfer the concept of human capital to the micro level. According to Becker, the human capital of an enterprise is a set of skills, knowledge and skills of a person.

In his book Human Capital, Becker (1964) developed a theoretical model that served as the basis for further developments in this direction and was recognized as a classic of modern economic science. Becker's merit also lies in the fact that he was the first to determine the economic efficiency of education, using a statistically correct calculation.

According to the definition of the concept of the American-Israeli economist Stanley Fischer, “human capital is a measure of the ability to generate income embodied in a person. Human capital includes innate ability and talent as well as education and acquired skills.” This definition can be considered a narrow definition of human capital.

In further research in this area, the work of the following economists was important (see table).

Table. Contribution to the development of human capital theory

	FULL NAME. scientist, years of life	Main conclusions in the development of the theory of human capital (HC)
	Simon (Semyon) Blacksmith	A high level and quality of accumulated human capital is necessary for the accelerated implementation of institutional reforms. Sufficiently high level and quality of the human capital of the country with a catch-up economy ensure its access to a stable growth of per capita GDP and an increase in the level and quality of life of the population. HC is the main dominant of the possible stable growth of the economies of developing countries.
	Robert Solow	The Solow model (1950-1969) makes it possible to evaluate various options for the economic policy of the state, its impact on the standard of living….
	John Kendrick	Defines human capital as the ability to create a product and income over a certain period of time, including non-market forms of income. The costs of health care over a certain period of time give an investment effect both in monetary and psychological forms.
	Lester Carl Thurow (born 1938)	Include in human capital such traits as "respect for political and social stability".
	John Stuart Mill (1806 - 1873)	He wrote: “The man himself ... I do not consider as wealth. But his acquired abilities, which exist only as a means and are generated by labor, with good reason, I think, fall into this category ”; "The craftsmanship, energy and perseverance of the workers of a country are as much considered its wealth as their tools and machines."
	Abalkin Leonid Ivanovich (1930 - 2011)	He considered human capital as the sum of innate abilities, general and special education, acquired professional experience, creativity, moral, psychological and physical health, activity motives that provide an opportunity to generate income.
	Dyatlov Sergey Alekseevich	“Human capital is a certain stock of health, knowledge, skills, abilities, motivations formed as a result of investments and accumulated by a person, which are expediently used in the labor process, contributing to the growth of its productivity and earnings.”
	Simkina Lyudmila Georgievna	Human capital is the enrichment of life activity based on saving time, which is the main relation of the modern innovative economic system.

Human capital in a broad sense is an intensive productive factor of economic development, the development of society and the family, including the educated part of the labor force, knowledge, tools for intellectual and managerial work, the environment and labor activity that ensure the effective and rational functioning of human capital as a productive development factor.

The ideas embodied in the theory of human capital have had a serious impact on the economic policies of states. Thanks to it, the attitude of society towards investments in a person has changed. This provided the theoretical basis for the accelerated development of the education and training system in many countries of the world.

Time has shown that the concept of "human capital" has several interpretations and interpretations, depending on the nature of the economic, microeconomic and/or sociological tasks being solved. In the future, a strict differentiation and systematization of such tasks will lead to a corresponding differentiation and classification of interpretations of the concept of human capital.

Literature:

1. Becker G. Human capital: theoretical and empirical analysis. - M., 1964. - 234 p. [electronic resource]‑access mode.‑ http://stepantsova.wordpress.com/2012/05/01/ (date of access: 10/22/2012).

2. Makarova E. O. Human capital in the innovative economy // Bulletin of Kazan State Agrarian University.‑2008.‑№ 2‑ P. 74‑78

3. Korchagin Yu. A. Russian human capital: a factor of development or degradation? - Voronezh: TsIRE, 2005 [electronic resource] access mode.

4. Free encyclopedia: Wikipedia. Human capital// [electronic resource] ‑ Access mode. - URL: ru.wikipedia.org/wiki/ Human_capital (date of access: 10/18/2012).

ODiplom // Economics // 18.01.2017

Bibliographic description:

Nesterov A.K. Accumulation of human capital [Electronic resource] // Educational encyclopedia ODiplom.ru

The accumulation of human capital is characterized by a delayed nature of increasing the efficiency of its use, since the increase in the knowledge and experience of individuals does not appear in practice immediately, as a result, labor productivity increases with a delay.

The need to accumulate human capital

The need to accumulate human capital is due to the existence of a system of human needs.

The structure and characteristics of the needs of a modern person are presented as a complex system of goals, each of which pursues the satisfaction of specific needs. At the same time, the needs are grouped into material, spiritual and social, and all together they are aimed at achieving the main goal of production. Thus, human needs are the main motive for economic activity in general.

As a result, in order to ensure an increase in his standard of living, a person is interested in the accumulation of human capital, which will increase the value of his work and allow him to satisfy more of his needs, to pay attention to his needs of a higher order. This is the subjective side of the accumulation of human capital.

On the other hand, in modern conditions, long-term economic growth is based on technical progress and innovations that require a qualitative improvement in human activity. Consequently, the objective side of the accumulation of human capital is associated with an increase in its role as the main factor in economic growth, which is one of the main conditions for the development of the national economy.

From the point of view of modern economic conditions, human capital is characterized by the qualities, abilities and motivations of a person that contribute to his productive labor activity.

Accumulation of human capital manifests itself in the development of 3 components:

1. Human qualities associated with labor activity - mind, intelligence, energy, reliability, responsibility, etc.
2. Abilities, skills, abilities of a person: giftedness, imagination, ingenuity, learning ability, professional skills, experience, etc.
3. Human motivations (related and not directly related to work): goal orientation, communication, teamwork, etc.

Accumulation of human capital

The increasing role of human capital in the modern economy is obvious. It is necessary to create a large-scale systemic framework that stimulates the accumulation of human capital. Given the current conditions, the problems of economic growth and development that the modern economy faces, the accumulation of human capital and its subsequent use will solve many issues related to human development and economic growth.

In the modern economy, the role of man has greatly increased compared to the last century, which is reflected in the strong influence of human capital on the economic growth and development of the country's economy. Human capital will make it possible to qualitatively improve production processes and create prerequisites for intensive economic development, reducing the role of extensive economic growth.

Specificity and forms of accumulation of human capital

The accumulation of human capital is of a continuous nature and requires significant investments from a person, both monetary and temporary. In conditions when progress in economic development directly depends on the accumulated human capital, the role of man in the economic environment is very large.

The most expedient is economic growth based on a qualitative improvement in production, living conditions and the welfare of the country. All this can be achieved by using human capital as the main factor. Each person should be interested in the constant accumulation of human capital as its owner. The motives for the accumulation of human capital are the needs of a person, which are the main incentives for his behavior in modern market conditions.

The process of accumulation of human capital, as a rule, is prolonged in time, which should be taken into account when determining the pace of economic development. Therefore, as the main motive for investing in human capital, one should use an increase in the level of income, both for the owners of human capital and for enterprises in the country. Income growth in the long run as a result of an increase in human capital is many times greater than investment costs.

The specificity of the accumulation of human capital lies in the presentation by the market of new requirements for the quality of the labor force. When high requirements for education and professional experience appear on the labor market, then the accumulation of human capital intensifies, at the same time, this process is most pronounced among workers interested in their development.

There is currently significant investment in human capital at 3 levels.

	Description	Characteristic
	State	At the state level in the form of education, healthcare, etc.
	Enterprise level	In the form of sending employees at the expense of the enterprise to paid trainings, seminars, conferences in order to improve their skills or organizing in-house trainings and seminars.
		The third level represents investments in human capital directly by its owner in the form of additional education, self-improvement and acquisition of new professional skills. All these investments ultimately increase the special human capital of the worker.

Forms of accumulation of human capital

The main form of accumulation of human capital is education, first of all, higher education, in this area knowledge, abilities, skills, and the ability to use them in work activities have priority.

Modern wages can be thought of as two components: the first is the level of income that a person would receive without higher education, and the second is the return on investment made in education. Investment in education includes the direct cost of education and the opportunity cost of forgone income during education. According to this approach, the real value of education for the owner of human capital and for the economy and society as a whole is manifested in the fact that an employee with a higher level of education, and, consequently, with a larger amount of human capital, has higher incomes.

It is traditionally believed that the income of people with higher education is approximately 1.3-1.5 times higher than the income of people with secondary specialized education, however, a number of professions that require higher education are paid less than many working professions. Therefore, this statement should not be taken as an absolute truth. However, it must be taken into account that having a higher education provides a certain increase in earnings.

The presence of human capital not only affects the receipt of a higher income, but also increases the chances of getting a position in a more profitable vacancy. The level and quality of education and employment have a pronounced relationship with each other. This trend is typical for both large cities and relatively small ones. The level of unemployed people with higher education is lower than those with secondary or specialized secondary education.

Consequently, a higher level of education and a correspondingly larger amount of human capital strengthens the competitive position of workers in the labor market. It should be noted that this is the main competitive advantage in the labor market. Second on the list is professional experience.

The next most important form of accumulation of human capital is the acquisition of practical production skills, professional training.

The total investment in vocational training and advanced training is roughly comparable to the investment in traditional education.

It is necessary to note the difference between special and general vocational training.

• Special professional training and advanced training is financed at the expense of the enterprise and provides employees with professional skills, abilities and knowledge that will be useful to them specifically at this enterprise. Therefore, the main income from special vocational training is received directly by the company that financed the training. Thus, leaving the enterprise, the employee is unlikely to be able to use the human capital accumulated during such training.
• General vocational training will allow a person to gain knowledge, skills and abilities in a particular field of activity and can be used in various enterprises.

  What is human capital?

  The individual makes the investment in general professional training himself, but in the future the costs of increasing human capital will be offset by higher wages.

It should be noted that both of these approaches to the accumulation of human capital are popular in Russia.

Also, Russian enterprises that invest in human capital seek to organize such working conditions so that employees do not leave the enterprise, as this leads to the loss of invested funds. The most popular among Russian companies are corporate trainings, team competitions, practical group classes of a narrow focus related to the specifics of work.

If earlier, the number of employees who improved their professional training on their own initiative was relatively small, today the trend has changed, the development of their own professional skills is in high demand. The obvious trend in the positive direction, however, is less than the desired level, since the main type of professional training that people undergo on their own initiative is professional development courses. Other types of general vocational training are less in demand.

In addition, it should be noted that employees of the public sector, government agencies, state companies improve their professional training much more often than employees of commercial organizations. For a number of professions in the public sector, it is mandatory to improve professional training every 1, 2 or 3 years.

In commercial enterprises, many employees do not feel the need to accumulate human capital through professional development, believing that training should be at the expense of the employer and on his initiative. But private firms, especially small ones, are reluctant to invest in the development of their employees. Whereas in the public sector there are special programs that require mandatory advanced training. In this case, it is the state that often acts as an investor in vocational training.

The third form of accumulation of human capital is independent development, which consists in obtaining additional education, new professional skills, etc. by its direct owner.

This form is the least common, the weak interest in self-improvement can be explained by the low level of motivation for the accumulation of one's own human capital among the bulk of the population. Often a person does not see the prospects for an increase in wages if he undergoes advanced training. Therefore, it is necessary to stimulate employees in the form of an increase in their wages, depending on the level of qualification and professional knowledge.

Accumulation of human capital with age

According to the general provisions of the theory of human capital, the salaries of workers grow with age, because in youth there is great investment in education, professional experience and training, then their intensity decreases, and workers begin to enjoy the fruits of their labors in the formation of human capital.

With age, the accumulation of human capital continues through the formation of professional skills and the accumulation of experience, and with it the level of income increases.

According to the general trend in the formation and development of human capital, an employee reaches the maximum of his income in the region of 45-50 years. After this milestone, the overall level of income begins to decline, as human capital depreciation factors come into play: knowledge and skills become obsolete, health problems appear, the level of perception decreases, passivity increases, etc.

The additional level of income due to the presence of higher education begins to decline from the age of 40-45, by the time of retirement it ceases to have any effect on the level of income. This is explained by the fact that the beginning of the accumulation of the main part of human capital coincides with the receipt of higher education (22-25 years old), after which a person sets foot on the labor path and begins to supplement it with professional experience. Having started labor activity, a person constantly improves his professional level, increasing human capital.

Starting from the age of 30-35, a person has already accumulated a sufficient amount of knowledge and acquired the necessary professional skills, therefore, he is most highly valued by the modern economy and employers. In the same period, with workers who have not developed their human capital all this time, the opposite situation occurs. Their accumulated human capital in the form of education received and the funds invested in it have depreciated, so it is more difficult for them to find high-paying jobs. This is partly due to the lack of strong-willed qualities for professional self-development, and partly due to the low quality of professional experience, which hinders work in the changed conditions.

In the period from 30-35 years old to 40-45 years old, a person must develop his human capital through professional development, special training and qualitative growth, so that after 40-45 years of professional experience provides a higher additional level of income than from higher education.

Thus, we can conclude:

The accumulation of human capital does not stop with the receipt of higher education, certain professional skills, work experience, special skills, etc., but must continue through additional general and special professional development. The more educated, qualified and developed a specialist is, the more chances he has to get a job with a high level of remuneration.

Among the features of the development and accumulation of human capital in Russia, it is necessary to note the positive trends in the growth of the number of workers who increase their human capital by improving their skills and acquiring new professional skills. This is definitely a plus. At the same time, the general low culture among workers and employers regarding the refinancing of human capital is a limiting condition for intensive economic growth. In modern conditions, human capital in Russia is the main factor of intensive economic growth. It is by increasing human capital that it is possible to increase the level of economic development, improve the sectors of the national economy, technological modernization of production, increase labor productivity and stimulate economic growth in the face of modern challenges faced by Russia.

Literature

1. Alaverdov A.R. Management of human resources of the organization. – M.: Synergy, 2012.
2. Lukyanchikova T.L., Semenova E.M. Effective management of the human capital of an enterprise in the interests of its innovative development. // Management Accounting. - 2014. - No. 2. - S. 28-38.
3. Mau V.A. Development of human capital. – M.: Delo, 2013.
4. Personnel Management. / ed. E.B. Kolbachev. - Rostov-on-Don: Phoenix, 2014.

The founders of the theory of human capital

The theory of human capital was developed by supporters of free competition and pricing in Western political economy by American economists Theodor Schultz and Gary Becker. For creating the foundations of the theory of human capital, they were awarded the Nobel Prize in Economics - Theodor Schultz in 1979, Gary Becker in 1992. Among the researchers who made the greatest contribution to the development of the theory of human capital are also M. Blaug, M. Grossman, J. Mintzer, M. Pearlman, L. Thurow, F. Welch, B. Chiswick, J. Kendrick, R. Solow, R. Lucas, Z. Griliches, S. Fabrikant, I. Fisher, E. Denison and others. economists, sociologists and historians. A native of Russia, Simon (Semyon) Kuznets, who received the Nobel Prize in Economics in 1971, made a significant contribution to the creation of the theory. Kritsky, S.A. Kurgansky and others.

The concept of "human capital" is based on two independent theories:

1) The theory of "investment in people" was the first of the ideas of Western economists about the reproduction of human productive abilities. Its authors are F. Machlup (Princeton University), B. Weisbrod (University of Wisconsin), R. Wikstra (University of Colorado), S. Bowles (Harvard University), M. Blaug (University of London), B. Fleischer (Ohio State University ), R. Campbell and B. Siegel (University of Oregon) and others. Economists of this movement proceed from the Keynesian postulate of the omnipotence of investments. The subject of the study of the concept under consideration is both the internal structure of the “human capital” itself and the specific processes of its formation and development.

M. Blaug believed that human capital is the present value of past investments in people's skills, and not the value of people in themselves.
From the point of view of W. Bowen, human capital consists of the acquired knowledge, skills, motivations and energy that human beings are endowed with and which can be used over a certain period of time in order to produce goods and services. F. Machlup wrote that unimproved labor may differ from improved labor that has become more productive, thanks to investments that increase the physical and mental abilities of a person. Such improvements constitute human capital.

2) The authors of the theory of "production of human capital" are Theodor Schultz and Jorem Ben-Poret (University of Chicago), Gary Becker and Jacob Mintzer (Columbia University), L. Thurow (MIT), Richard Pelman (University of Wisconsin), Zvi Griliches (Harvard University) and others. This theory considered fundamental to Western economic thought.

Schultz, Theodore-William (1902-1998), American economist, Nobel laureate (1979). Born near Arlington (South Dakota, USA). He studied at the college, graduate school of the University of Wisconsin, where in 1930. received a doctorate in agricultural economics.

He began teaching at Iowa State College. Four years later he headed the Department of Economic Sociology. Since 1943 and for nearly forty years he has been a professor of economics at the University of Chicago. He connected the activities of the teacher with active research work. In 1945, he prepared a collection of materials from the Food for the World conference, which paid special attention to the factors of food supply, the structure and migration of the agricultural labor force, the professional qualifications of farmers, agricultural production technology and the direction of investment in farming. In his work "Agriculture in an Unstable Economy" (1945), he spoke out against the illiterate use of land, as it leads to soil erosion and other negative consequences for the agricultural economy.

In 1949-1967. T.-V. Schultz is a member of the board of directors of the US National Bureau of Economic Research, then an economic consultant for the International Bank for Reconstruction and Development, the Food and Agriculture Organization of the United Nations (FAO), several government departments and organizations.

Among his most famous works are " Agricultural Production and Welfare, Transforming Traditional Agriculture (1964), Investing in People: The Economics of Population Quality (1981) and etc.

The American Economic Association awarded T.-V. Schultz medal named after F. Volker. He is an honorary professor at the University of Chicago; he has received honorary degrees from the Universities of Illinois, Wisconsin, Dijon, Michigan, North Carolina and the Catholic University of Chile.

According to the theory of human capital, two factors interact in production - physical capital (means of production) and human capital (acquired knowledge, skills, energy that can be used in the production of goods and services). People spend money not only on fleeting pleasures, but also on monetary and non-monetary income in the future. Investments are made in human capital. These are the costs of maintaining health, getting an education, the costs associated with finding a job, obtaining the necessary information, migration, and vocational training at work. The value of human capital is estimated by the potential income that it is able to provide.

T.-V. Schulz claimed that human capital is a form of capital because it is a source of future earnings or future satisfactions, or both. And he becomes human because he is an integral part of man.

According to the scientist, human resources are similar, on the one hand, to natural resources, and on the other hand, to material capital. Immediately after birth, a person, like natural resources, does not bring any effect. Only after appropriate "processing" does a person acquire the qualities of capital. That is, with the growth of costs for improving the quality of the labor force, labor as a primary factor is gradually transformed into human capital. T.-V. Schultz is convinced that, given the contribution of labor to output, human productive capacity is superior to all other forms of wealth combined. The peculiarity of this capital, according to the scientist, is that, regardless of the sources of formation (own, public or private), its use is controlled by the owners themselves.

The microeconomic foundation of the theory of human capital was laid by G.-S. Becker.

Harry-Stanley Becker (born 1930) is an American economist and Nobel laureate (1992). Born in Potsville (Pennsylvania, USA). In 1948 he studied at the J. Madison High School in New York. In 1951 he graduated from Princeton University. His scientific career is associated with Columbia (1957-1969) and Chicago Universities.

HUMAN CAPITAL

In 1957 he defended his doctoral dissertation and became a professor.

Since 1970 G.-S. Becker served as chair of the social sciences and sociology department at the University of Chicago. He taught at the Hoover Institution at Stanford University. Collaborated with the weekly "Business Week".

He is an active supporter of the market economy. His legacy includes many works: "The Economic Theory of Discrimination" (1957), "Treatise on the Family" (1985), "The Theory of Rational Expectations" (1988), "Human Capital" (1990), "Rational Expectations and the Effect of the Price of Consumption" ( 1991), Fertility and Economics (1992), Training, Labor, Labor Quality and Economics (1992), etc.

The cross-cutting idea of ​​the scientist's works is that, when making decisions in his daily life, a person is guided by economic reasoning, although he is not always aware of this. He argues that the market of ideas and motives operates according to the same patterns as the market for goods: supply and demand, competition. This also applies to issues such as marriage, family, education, choice of profession. In his opinion, many psychological phenomena are also amenable to economic evaluation and measurement, such as, for example, satisfaction or dissatisfaction with the financial situation, the manifestation of envy, altruism, egoism, etc.

Opponents G.-S. Becker argue that by focusing on economic calculations, he downplays the importance of moral factors. However, the scientist has an answer to this: moral values ​​are different for different people, and it will take a long time until they become the same, if this is ever possible. A person with any morality and intellectual level seeks to receive personal economic benefits.

In 1987 G.-S. Becker was elected president of the American Economic Association. He is a member of the American Academy of Sciences and Arts, the US National Academy of Sciences, the US National Academy of Education, national and international societies, editor of economic journals, and honorary doctorates from Stanford, Chicago, Illinois, Hebrew Universities.

The starting point for G.-S. Becker had the idea that when investing in training and education, students and their parents act rationally, taking into account all the benefits and costs. Like "ordinary" entrepreneurs, they compare the expected marginal rate of return on such investments with the return on alternative investments (interest on bank deposits, dividends from securities). Depending on what is more economically feasible, they decide whether to continue education or stop it. Rates of return regulate the distribution of investment between different types and levels of education, as well as between the education system and the rest of the economy. High rates of return indicate underinvestment, low rates indicate overinvestment.

G.-S. Becker carried out a practical calculation of the economic efficiency of education. For example, income from higher education is defined as the difference in lifetime earnings between those who graduated from college and those who did not go beyond high school. Among the costs of education, the main element was recognized as "lost earnings", that is, earnings that students did not receive during the years of study. (Essentially, lost earnings measure the value of students' time spent building their human capital.) Comparing the benefits and costs of education made it possible to determine the return on investment in a person.

G.-S. Becker believed that a low-skilled worker does not become a capitalist due to the diffusion (dispersal) of ownership of corporate shares (although this point of view is popular). This happens through the acquisition of knowledge and skills that have economic value. The scientist was convinced that lack of education is the most serious factor holding back economic growth.

The scientist insists on the difference between special and general investments in a person (and, more broadly, between general and specific resources in general). Special training gives the employee knowledge and skills that increase the future productivity of its recipient only in the firm that trains him (various forms of rotation programs, familiarizing newcomers with the structure and internal routine of the enterprise).

In the process of general training, the employee acquires knowledge and skills that increase the productivity of its recipient, regardless of the company in which he works (learning to work on a personal computer).

According to G.-S. Becker, investments in the education of citizens, in medical care, in particular in children's, in social programs aimed at maintaining, supporting, replenishing personnel, are tantamount to investing in the creation or acquisition of new equipment or technologies, which in the future returns with the same profits. So, according to his theory, the support of schools and universities by entrepreneurs is not charity, but concern for the future of the state.

According to G.-S. Becker, general training is paid in a certain way by the workers themselves.

In an effort to improve their skills, they accept lower wages during the training period, and later have income from general training. After all, if firms financed training, then every time they fired such workers, they would get rid of their investments in them. Conversely, special training is paid for by firms, and they also receive income from it. In case of dismissal at the initiative of the company, the costs would be borne by employees. As a result, the general human capital, as a rule, is developed by special “firms” (schools, colleges), and the special one is formed directly at the workplace.

The term “special human capital” has helped to understand why long-serving workers in the same job are less likely to change jobs, and why vacancies in firms are filled predominantly through internal job travel rather than through external recruitment.

Having studied the problems of human capital, G.-S. Becker became one of the founders of new sections of economic theory - the economics of discrimination, the economics of foreign economics, the economics of crime, etc. He threw a "bridge" from economics to sociology, demography, criminalistics; he was the first to introduce the principle of rational and optimal behavior in those industries where, as researchers previously believed, habits and irrationality dominated.

According to the elements of costs, investments in human capital, it can be divided into health capital, education capital and cultural capital. In addition to this classification, it is proposed to distinguish the following main elements (assets) (Fig. 1):

Rice. one.

human capital theory

• 1. Health capital. Qualitative characteristics of health determine the lifestyle of the bearer of human capital, the level of socio-economic activity, its migration mobility, the nature and methods of leisure and recreation. The possibility of a person's participation in certain types of labor activity, his labor productivity depends on the level of health, physical development. The concept of health capital should include physical strength, endurance, working capacity, immunity, a period of active labor activity; the system of characteristics also includes the concepts of morbidity, disability, disability, which are combined into the term "global burden of disease" (DALY). The system of these indicators can reflect the losses of society as a result of premature death of people, their incapacity for work and disability.
• 2. Labor capital- this is knowledge and professional abilities, skills and experience that determine the level of qualification. In the conditions of scientific and technological progress in the production process, knowledge of modern technologies, possession of the results of the latest scientific research and the ability to apply them in practice are becoming increasingly important. The formation of such abilities is ensured through general and vocational education, and the realization of abilities, the accumulation of experience and the improvement of skills occur during work. Specific capital also includes recognition of the traditions, philosophy of the company, its internal values.
• 3. intellectual capital. The composition of intellectual capital, which is determined by the level of education of the individual, includes such components as:
  • a) intellectual capital, embodied in the form of experience, knowledge, ability to innovate and creative activity;
  • b) intellectual capital, including patents, licenses, trademarks and other objective factors related to copyright. An intellectual product is separated from the author; it determines the directions and forms of economic use of its property.
• 4. Organizational and entrepreneurial capital - potential of innovative creative activity. I. Schumpeter defined an entrepreneur as an "innovator", a subject initiating and implementing innovative projects, technologies in the organization of business. It includes entrepreneurial, organizational skills to develop fruitful business ideas, entrepreneurial spirit, determination, possession of trade secrets. The implementation of this form of human capital depends on the strong motivation of the carrier and the special leadership, entrepreneurial qualities of the individual.
• 5. Cultural and moral capital implies the recognition of values, culture, ethical norms, morality existing in the social system, which determine the line of human behavior, his attitude to business, things, other people, himself, which affects the quality of human capital, is determined by spiritual development, conditions of education and level of education.

The formation of human capital assets is a complex process, as a result of which the qualitative properties of individuals develop, the totality of which turns into capital in the social institutional environment, in the system of production relations. The formation of intellectual, educational, cultural, moral, organizational and entrepreneurial forms of human capital is provided mainly by investments in scientific, educational, information systems of society, the formation of a biological form (health capital) requires investments in the healthcare system.