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The concept of human capital is considered in a broad and narrow sense. In a narrow sense, one of the forms of human capital is education. It was called human because this form becomes part of a person, and capital is due to the fact that it represents a source of future satisfaction or future earnings, or both. In a broad sense, human capital is formed through investments (long-term investments) in a person in the form of costs for education and training of workers in production, health care, migration and searching for information about prices and incomes.
Human capital is defined as a special type of investment, a set of costs for the development of human reproductive potential, improving the quality and functioning of the workforce. Human capital objects usually include general and specialized knowledge, skills, and accumulated experience.
L. Thurow, who summarized the first studies of human capital, gives the following definition as an initial concept: “The human capital of people represents their ability to produce goods and services.” Among the abilities, L. Thurow identifies the genetically basic economic ability. Economic ability, in his view, is not just another productive investment that an individual possesses. Economic ability affects the performance of all other investments. This implies an important point about the need for unity of life activity as a source of formation and accumulation of human capital. As L. Thurow believed, consumption, production and investment are joint products of human activity to maintain life.
In turn, I. Ben-Poret determines that human capital can be considered as special fund, whose functions are the production of labor services in generally accepted units of measurement and which in this capacity is similar to any machine as a representative of material capital.
However, human abilities as a capital good are significantly different from the physical properties of machines. The analogies between human capital and physical capital are interesting and exciting, notes L. Thurow, however, human capital cannot be analyzed in the same way as physical capital. F. Machlup proposes to distinguish between primary and improved abilities. Unimproved labor must be distinguished from improved labor, which has become more productive due to investments that increase the physical and mental capabilities of a person. Such improvements constitute human capital.
MM. Kritsky defined human capital as a universally specific form of human life activity, assimilating previous forms - consumer and productive, adequate to the eras of the appropriating and producing economy, and realized as the result of historical movement human society to his current state. Recognition of the universality, historicity and specificity of human capital allows us to limit the time frame and socio-economic conditions for the existence of this phenomenon.
Human activity is related to both consumption and production. The source and form of enrichment of a person in his life is intellectual activity. Human capital, notes L. G. Simkina, is the main element of the modern innovative economic system. Since intellectual activity is a source of increased consumption, its expanded reproduction is the reproduction of the main economic relationship - human capital as self-enrichment of life activity. Disclosure of the absolute and relative forms of enrichment of life through the elevation of needs and abilities allows us to determine the historically specific form of human capital. The productive form of human capital appears as an organic unity of two components- direct labor and intellectual activity. These parts can act either as functions of the same subject, or as organizational and economic forms of different subjects entering into an exchange of activities with each other.
Exploring socio-economic processes, V.N. Kostyuk defines human capital as a person’s individual ability that allows him to operate successfully in conditions of uncertainty. It includes rational and intuitive components as part of human capital. Their interaction can allow the owner of human capital to achieve success where high qualifications and professionalism alone are not enough. Additionally, talent is required, which requires separate remuneration. For this reason, in a competitive market, the success of the owner of human capital in a certain type of activity can be rewarded significantly higher than wages in the corresponding industry.
When studying the mechanisms of functioning of the social and labor sphere, I.G. Korogodin defines human capital as a set of knowledge, skills, abilities, and other human abilities, formed, accumulated and improved as a result of investment in the process of his life, necessary for specific purposeful activities and contributing to the growth of the productive power of labor. He believes that the most important criterion expressing the essence of capital is its accumulation. In all cases, capital is the accumulated funds (monetary, material, information, etc.) from which people expect to derive income. People increase their capacity as producers and consumers by investing in themselves, and a significant increase in investment in a person changes the structure of his income. Therefore, human capital is not the innate, but the accumulated properties of a person. A person cannot be born with ready-made capital. It must be created in the life process of each individual. And innate properties can only act as a factor contributing to the fruitful formation of human capital. It is necessary to use a functional approach that characterizes a phenomenon not only from the point of view of its internal structure, but also from the point of view of its functional purpose, i.e. intended use. Therefore, firstly, human capital is a set of skills, knowledge, and abilities that a person possesses, an accumulated stock of skills, knowledge, and abilities that are rationally used by a person in one or another sphere of social reproduction and contribute to the growth of labor productivity and production. Secondly, the rational use of this reserve in the form of highly productive activities naturally leads to an increase in the employee’s earnings (income). Thirdly, an increase in income stimulates, interests, motivates (encourages) a person through investments that may relate to health, education, etc., to increase, accumulate a new stock of skills and knowledge in order to effectively apply it again in the future.
Human capital has specific features:
. V modern conditions human capital is the main value of society and the main factor of economic growth;
. the formation of human capital requires significant costs from the individual himself and the entire society;
. human capital in the form of skills and abilities is a certain reserve, i.e. accumulated;
. human capital physically wears out, changes its value economically and can be depreciated;
. human capital differs from physical capital in terms of liquidity;
. human capital is inseparable from its carrier - a living human personality;
. Regardless of the sources of formation, which can be state, family, private, etc., the use of human capital and income generation are controlled by the person himself.

Formation of human capital

Human capital comes in various forms.
First form. Living capital includes knowledge embodied in a person.
Second form. Non-living capital is created when knowledge is embodied in physical, material forms.
Third form. Institutional capital consists of living and non-living capital and is associated with the production of services that satisfy the collective needs of society. It includes all governmental and non-governmental institutions that promote the effective use of living and non-living capital (educational, financial institutions).
Thus, in terms of formation and use, human capital can be distinguished as private, or special, and general. Specialized human capital includes skills and knowledge acquired as a result of specialized training and are of interest only to the organization where they were acquired. General human capital represents knowledge and experience that can be in demand in various spheres of human activity.

Types of human capital

From the point of view of the nature of assistance economic well-being societies distinguish between consumer and productive, illiquid (non-alienated) and liquid (alienated) human capital.
Consumer capital creates a flow of directly consumable services, and thus contributes to social utility. This can be a creative and educational activity. The result of such activity is expressed in the provision of consumer services to the human consumer, which lead to the emergence of new ways to satisfy needs or increase efficiency existing methods their satisfaction. Productive capital creates a flow of services, the consumption of which contributes to social utility. In this case, we mean scientific and educational activities that have direct practical application specifically in production (the creation of means of production, technologies, production services and products).
Non-alienated (illiquid) human capital includes: health capital (biophysiological, physical, psychophysiological, mental); cultural and moral capital (ethics, traditions, customs); labor capital (experience, skills, abilities); intellectual capital (creativity, education); organizational and entrepreneurial capital (entrepreneurship, business qualities, innovation, frugality, etc.).
Alienated (liquid) human capital includes: social capital (social and labor relations); brand capital (client capital) - enterprises where the basis of relationships is a “portfolio of contracts with clients”; organizational capital (innovation, protection of commercial rights and intellectual property); structural capital (organizational structure
management and costs for its formation and improvement).

Classification of human capital

Classification of types of human capital is carried out according to for various reasons and for different purposes.
The purpose of the classification is to substantiate target programs as the basis for the formation and accumulation of human potential.
The classification of human capital can be represented as a structure of its types by levels and affiliation (ownership) (Fig. 1).
This classification of types of human capital allows us to evaluate human capital at the level of an individual (micro level—individual human capital), a separate enterprise or group of enterprises (meso level—human capital of an organization, firm) and the public—the state as a whole (macro level—national human capital). In the structure of individual human capital, one can distinguish health capital, cultural and moral capital, labor, intellectual and organizational and entrepreneurial capital.

Rice. 1. Classification of human capital by levels and ownership (ownership)
Health capital. Physical strength, endurance, performance, increasing the period of active work are necessary for every person in any field of professional activity. The reduction (reduction) of health capital affects the demographic situation, which can currently be assessed as quite complex. The population of Russia decreased by 6.4 million people. with 148.2 million people. on January 1, 1991 to 141.8 million people. as of January 1, 2010 and continues to decline.
Demographic indicators for the future allow us to assess possible quantitative and structural changes in health potential in the first quarter of the 21st century. (Table 2).
Table 2 Expected demographic indicators in Russia

In general, the demographic forecast shows that even in the case of an optimistic scenario for economic development and significant investments in the social sphere, the population reduction by 2025 will be 7%. Morbidity, disability, and premature mortality reduce life expectancy. Thus, in 2004, the life expectancy of men in Russia was 59 years, which nationwide was a loss of about 33.4 million man-years of work or 1.1 million able-bodied men. The country's economic losses this year amounted to more than 68.7 billion rubles.
Economic damage from disease can be determined for each enterprise. According to statistics, per 100 people who applied to medical institutions per year, there are 67 patients. Lost work time due to illness averages 20 days per year. This means that the employee does not create products and does not participate in ensuring profit. He needs to pay sick leave and bear the costs of replacing him at production.
To stimulate the growth of health capital, many companies use bonuses for vacation pay (medical pay) for employees who have not been sick during the year. The use of a voluntary health insurance system at the expense of the employer is of stimulating value, taking into account the real savings in working time due to illness compared to average or standard levels.
Cultural and moral capital means the totality of intellectual abilities, education, skills, moral qualities, and qualifications of an individual, which are used in the process of social and labor activity and at the same time legitimize the possession of status and power.
The cultural characteristics of an individual have a value assessment: social - qualitative and quantitative characteristics of knowledge, skills, qualifications, moral qualities, abilities, way of life, image, social connections of the individual; economic - the totality of costs associated with the development of the cultural characteristics of an individual.
A person’s use of his cultural and moral potential in the process of social and labor actions realizes it as human capital, allowing a person to become a subject of labor and occupy a professional niche corresponding to his cultural level, gain professional status, access to additional income exceeding the costs associated with the reproduction of a worker and his family.
Only under certain conditions of active use do cultural values embodied in a person change his professional status and turn into cultural capital. Cultural use values turn into cultural capital only when embedded in such social relations in which they become a source of power for their owner over other participants in social interaction. Therefore, manifestations of human properties in the form of cultural and moral capital are carried out within the framework of the entire set of social relations of social reproduction through a system of rational, meaningful human action.
Thus, high culture and human morality are constantly needed in management and production, as well as skill and intelligence. Medical deontology, pedagogical and business ethics, the code of honor of the manager and employees, labor and everyday morality create a healthy moral and psychological climate in teams, increase labor productivity and income. The reputation of an employee and the image of a company are just as important for attracting customers and investments as the purely business performance of a business is important. Business honor, conscience, decency, responsibility are highly valued in civilized business relations.
Labor capital is embodied in the labor of qualified workers, for whom it depends on the use of modern technologies. The higher the level of mechanization, automation, and computerization, the higher the requirements for labor capital. The more complex the work, the higher the requirements for the qualifications, knowledge, experience and responsibility of the employee. As Academician S. G. Strumilin noted, skilled labor is 2-3 times more productive than simple labor. Qualification itself is an integral part of labor capital and represents the degree of professional suitability of the employee.
IN beginning of XXI V. Russia's economically active population was 71 million people, of which 64.7 million people were employed in the economy. or 91.1%, and the unemployed - 6.3 million people. The employment situation of labor resources in the period 2000–2010. remained relatively stable in terms of worker labor supply.
The period 2011 to 2025 is characterized by an absolute and relative reduction in the working age population. In general, during this period the working-age population is expected to decline by 14.3–15.5 million people. (Table 3).
Table 3
Labor resources for the future (share of population, %)

From the table Figure 3 shows that the load on the working-age population will have a wave-like nature over time. The increase in workload due to older people will be offset by a decrease in the population younger than the working age population. This situation indicates an aging population and the emergence of additional social and economic problems. In addition, there is significant differentiation of employment in different sectors of the economy, i.e. Some sectors have jobs available, while others have a surplus. One of the reasons for the uneven employment of human resources is that the training system in educational institutions does not fully meet the requirements of the economy. Another reason is significant differentiation in wages, which contributes to the outflow of workers from low-paid sectors of the economy. The third is the reduction and liquidation of production in the agro-industrial complex, light industry, mechanical engineering, etc. Based on this, structural unemployment may persist in Russia for a long time if an effective system of training and retraining of personnel is not created in accordance with the needs of the economy.
Labor capital is formed throughout life as labor skills, abilities, experience and, most importantly, education accumulate. Education is the main way to reproduce qualified workers.
Intellectual capital (Latin intellectus - thinking ability, perception) is inherent only to a person who not only has high thinking abilities, but also subtly feels and perceives the beauty of external and inner world person.
Intelligence is the system of all the cognitive abilities of an individual (sensation, perception, memory, representation, thinking, imagination) used to solve problems and achieve goals.
Intelligent, creative activity is a unique attribute of the human mind, ingenuity, and ingenuity. A product of intellectual activity is patented and secured by copyright as the exclusive property of the author, who has the right to determine the directions and forms of its economic use. Objects of intellectual property are involved in economic turnover as intangible assets of enterprises and increase the income of the company and the owners of these assets.
Talented, highly qualified scientists and scientists receive high incomes from intellectual property. In the modern world, people with a large amount of knowledge and information occupy more advantageous places in labor and social life.
The concept of intellectual capital and the related concept of intellectual property are inseparable from the new economy. These are the most essential components that most identify the new economy. At the stage of technological development, they manifest themselves with such intensity that allows us to speak about the fundamental difference between the new economy and the industrial economy, which relies on natural raw materials and the labor of the so-called industrial production personnel.
Thus, intellectual capital implies the sum of the knowledge of the human resources of an organization, enterprise, company that ensures their competitiveness. A person accumulates amounts of knowledge through constant education.
Education is given special attention in any modern society. When investing in education, it is necessary to remember that these investments are many times more effective than investments in any other factor of production. For example, in the USA, the growth of the nation's education provides 15% of the increase in national income. Considering that 6-7% of GDP is spent on education, it is clear that investments in education are highly effective.
The planned increase in the number of students in the professional system gives grounds for optimistic assessments related to the reproduction of intellectual capital and human potential in general (Table 4).
The increasing role of creativity in production is evidenced by the growing share of specialists in industries and enterprises. At the beginning of the 21st century. 11 million specialists worked in sectors of the national economy with higher education, 10.3 million mid-level specialists.
Table 4
Number of students in Russia (million people)

The trend in the relationship between education and a person’s income is approximately the same in all countries. This suggests that at present it is not only profitable to receive education, but also profitable to invest money in it, since education, in addition to everything else, directly affects labor productivity and production efficiency in general.
Organizational and entrepreneurial capital. The work of an entrepreneur and manager has significant specifics compared to other types of work. Running a business or managing requires entrepreneurship and business savvy, innovation, organizational skills and high responsibility, a sense of frugality and economy, the ability to take reasonable risks, energy and willpower.
Entrepreneurial privileges—ownership of enormous resources, know-how, and trade secrets—make it possible to transform them into a special type of human capital—organizational and entrepreneurial capital.
Entrepreneurship and management are carried out not only by top managers, but also by middle and line managers. The Japanese experience testifies to the high creative activity of workers in quality circles. Western companies widely use intrapreneurship systems. All this indicates that entrepreneurial abilities are possessed not only by a narrow elite layer of company owners, but also by hired managers, specialists, and workers.
The level of entrepreneurial abilities is embodied in the amount of own and controlled capital. This allows us to distinguish small, medium and big business. The quality of entrepreneurial abilities is assessed by the efficiency of capital use and the sustainability of progressive business development. Intervals of profitability of capital investments and the rate of economic growth of organizations indicate the real capitalization of the organizational and entrepreneurial abilities of employees.
Organizational and entrepreneurial capital is one of the most promising and important types of human capital. Investments in its development are increasingly productive. Not all people have entrepreneurial spirit. The ability to manage, organize, create and conduct a successful business (business) is a complex ability that is studied by psychologists, sociologists, and economists. In developed countries, the share of entrepreneurs in the adult population reaches 7-10%, in Russia - less than 2%.
All these types of human capital have one thing in common. All of them are inalienable from man. However, the components of human capital are heterogeneous, i.e. in the structure of this capital, those that can be alienated from the human personality are distinguished.
Social capital can be defined as a certain set public relations, which minimizes the transaction costs of information throughout the economy. K. Marx believed that capital freely appropriates the achievements of science, as well as the division of labor. Division of labor as an element public organization production is an example of social capital, the effect of the use of which is appropriated by business entities.
The elements of social organization include social norms, trust, so-called social networks - a set of public informal associations, interpersonal connections (personal, family, business). Their task is to create conditions for coordination and cooperation of labor for mutual benefit.
Social capital is associated with the fact that each person is embedded in a system of social relations. This is the capital of communication, cooperation, interaction, mutual trust and mutual assistance, formed in the space of interpersonal (interpersonal) economic and labor relations. Dialogue and openness allow people to learn from each other. This process can be characterized as social learning. Almost human intellectual advantages consist of knowledge that is transmitted by society and acquired in the process of socialization and integration into the system of social relations. This knowledge characterizes social qualifications.
Asocial capital is knowledge that is transferred and developed through relationships between employees, partners, suppliers and customers. It is created through the exchange of knowledge, and this requires the existence of a common organizational environment in which such exchange can freely and continuously take place. Such an environment, as M. Armstrong notes, is more likely to be found in “borderless” organizations, where the focus is on horizontal processes, teamwork and target groups, which allows the transfer of knowledge in the process of professional activity. Social capital is human capital capable of realizing its potential.
Social capital has a number of specific features. Firstly, it is always a product of organized interaction, so it has a social rather than an individual nature. A. Porter notes that economic capital is in people's bank accounts, human capital is in people's heads, social capital is inherent in the structure of their relationships. To have social capital, a person must be connected to others, and these others are the actual source of his advantage.
Secondly, social capital as an element of the functioning of a socially organized social system cannot be privately owned, i.e. is a public good. Despite the fact that social capital is not the property of an individual company, it is included in the structure of the company's assets and is used by each enterprise to the extent possible.
Thus, the accumulated social capital of Russia consists, as noted by V.A. Skvortsov, forms of cooperation, collectivism, conciliarity. An example of negative social capital is participation in criminal communities, abuse of an exclusive position, etc. Thus, all those factors that create the possibility of the emergence and development of social connections and ensure their preservation are related to social capital. Thus, the natural resources and technologies used by the firm may not change, but its social capital may grow as the external relations and image of the firm develop.
Brand equity. An alienable type of human capital can be considered customer or brand capital. The activity of a company with customer capital becomes a socio-economic activity, and the company itself can be called a “meta-enterprise”, involving the user in the joint creation and improvement of consumer values, because the buyer acts as the final judge of all products and services created by the company.
Back in 1993, E. Grove formulated one of the necessary conditions for the survival of an imperfect competitor in a highly competitive environment. Leading corporations, and after them the rest, in conditions of imperfect competition, are forced to produce not just specific goods and services, but complex social complexes such as “material products and services + their consumers + their preferences”, which allow increasing demand according to the principle of positive feedback, when an increase in demand increases demand. Once a product has captured a significant portion of the market, the public has a strong incentive to continue purchasing variations of it.
An example of the effective use of client capital is operating Windows system, which is installed on most computers. Therefore, programmers tend to develop programs primarily for this system, and then for the less common OS/2 system. In turn, the abundance of new application programs increases the attractiveness of Windows in the eyes of computer buyers, resulting in an increasing positive feedback effect. Even a more advanced product cannot break this connection if it enters the market too late. At the same time, this connection can be strengthened by increasing sales volume in one way or another.
The general rule for many companies should be the principle: give (give away for free) to the consumer some product with which he will use paid services for a long time. In accordance with this principle, the United States has already begun selective free distribution of personal computers to the population. The desire to increase customer capital transforms imperfect competition of individual producers into an innovative and competitive community of producers and consumers, affecting the entire complex of social relations.
The orientation of firms towards future profits forces them to take part in solving social problems, transforms them from purely economic into socio-economic subjects of market relations. This is facilitated by the activity of such entities as consumer societies, ethnic minorities, representatives of various subcultures, aimed at obtaining representation on the boards of companies. The existence of the client capital category is especially evident for insurance companies and other financial enterprises, where the basis of activity is a portfolio of contracts with clients, which determines the scale, structure and dynamics of activity. In Russia, the brand capital of such large corporations as RAO UES of Russia, RAO Gazprom, RKS, NPO Energia, etc. is still in its infancy.
Structural capital. The competitive environment in which firms operate in a modern economy is constantly changing under the influence of innovation. The rapid pace of such change complicates the conditions under which a firm can succeed. One of these conditions is that the company has significant structural capital. Structural capital is the firm's ability to manage its organizational structure, adapting to changing market conditions and at the same time changing it in a direction beneficial to the company. Such capital is greater, the greater the freedom of the company’s employees—the carriers of human capital. And the more valuable it is, the higher the uncertainty and competitiveness of the environment in which the company operates. Effective structural capital of a firm can only arise where ideas are valued more than position on the hierarchical ladder.
An example of a company with large structural capital is the world leader in the production of microprocessors, Intel. To cover its costs and increase profits, the company must sell more and more processors with each new series. This situation is typical for any imperfect competitor. Current costs are rising so rapidly that they threaten to wipe out all future profits and render the corporation unprofitable. To prevent this from happening, the new value must grow faster than costs. This makes the existence of the company dependent on rapidly changing consumer preferences. If the market is saturated and sufficiently competitive, then the stronger these preferences, the greater the innovative added value, and the weaker these preferences, the smaller it is. Added value disappears when a product or service loses its attractiveness in the eyes of consumers.
Organizational capital, at its core, is the systematized and formalized competence of a company plus systems that enhance its creative effectiveness, as well as organizational capabilities aimed at creating product and value. Organizational capital includes:
. firstly, innovation capital (protected commercial rights, intellectual property and other intangible assets and values), which ensures the company’s ability to renew;
. secondly, the capital of processes (production, sales, after-sales service, etc.), activities that form the cost of the product.
Organizational capital consists of the knowledge possessed by the organization, not its individual employees. It can be considered embedded knowledge (institutionalized knowledge) that can be stored using information technology in accessible and easily extensible databases. Organizational capital may include certain information that is recorded in databases, in instructions and standards for performing procedures, or tacit knowledge that can be mastered, exchanged or, to the extent possible, codified.
Any processes or procedures in an organization are created based on the knowledge of individuals. As Davenport and Prusak note, in theory, this embedded knowledge is independent of the people who develop it—and is therefore relatively stable—an individual may disappear, but this will not reduce the stock of embedded knowledge within the company. Organizational capital is created by people. But at the same time, it belongs to the company and can be developed through knowledge management.
Thus, with the existence of a large number of definitions, forms and types, human capital is the most important component of modern productive capital, which is represented by a rich stock of knowledge inherent in humans, developed abilities, determined by intellectual and creative potential. Basic

Human capital

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

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

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

Human capital is the main factor in the formation and development of the innovative economy and 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.

Use the classification of human capital:

Individual human capital.
Human capital of the company.
National human capital.

Human capital in developed countries accounts for 70 to 80% of national wealth. In Russia it is about 50%.

Background

Elements of the theory of human capital (HC) have existed since ancient times, when the first knowledge and education system were formed.

IN scientific literature the concept of human capital (Human Capital) appeared in publications of the second half of the 20th century in the works of American economists Theodore Schultz and Gary Becker (1992). For creating the foundations of the theory of human capital (HC), they were awarded the Nobel Prize in Economics - Theodore Schultz in 1979, Gary Becker in 1992. Simon (Semyon) Kuznets, a native of Russia, who received the Nobel Prize, also made a significant contribution to the creation of the theory of HC in economics for 1971

The theory of human capital is based on the achievements of institutional theory, neoclassical theory, neo-Keynesianism and other particular economic theories. Its appearance was a response from economics and related sciences to the demand of the real economy and life. The problem has arisen of an in-depth understanding of the role of man and the accumulated results of his intellectual activity on the pace and quality of development of society and the economy. The impetus for the creation of the theory of human capital was the statistical data on the growth of the economies of developed countries, which exceeded calculations based on taking into account classical growth factors. Analysis of the real processes of development and growth in modern conditions led to the approval of human capital as the main productive and social factor in the development of the modern economy and society.

Contributions to the development of the modern theory of human capital were made by T. Schultz, G. Becker, E. Denison, R. Solow, J. Kendrick, S. Kuznets, S. Fabrikant, I. Fisher, R. Lucas and other economists, sociologists and historians .

The concept of human capital is a natural development and generalization of the concepts of human factor and human resource, however, human capital is a broader economic category.

The economic category “human capital” was formed gradually, and at the first stage it was limited to a person’s knowledge and ability to work. Moreover, for a long time, human capital was considered only a social factor of development, that is, a costly factor, from the point of view economic theory. It was believed that investments in upbringing and education were unproductive and costly. In the second half of the 20th century, attitudes towards human capital and education gradually changed dramatically.

Broad definition of human capital

The concept of human capital (Human Capital) appeared in publications of the second half of the 20th century in the works of American economists Theodore Schultz and Gary Becker (1992). For creating the foundations of the theory of human capital (HC), they were awarded the Nobel Prize in Economics - Theodore Schultz in 1979, Gary Becker in 1992. Simon (Semyon) Kuznets, a native of Russia, who received the Nobel Prize, also made a significant contribution to the creation of the theory of HC in economics for 1971

The founders of the theory of human capital (HC) gave it a narrow definition, which expanded over time and continues to expand, including all new components of HC. As a result, Cheka has turned into a complex intensive factor in the development of the modern economy - the knowledge economy.

Currently, on the basis of the theory and practice of Cheka, a successful development paradigm for the United States and leading European countries is being formed and improved. Based on the theory of the Cheka, Sweden, which had lagged behind, modernized its economy and regained its leading position in the world economy in the 2000s. Finland, in a historically short period of time, has managed to move from a primarily resource-based economy to an innovative economy. And create your own competitive high technologies, without giving up the deepest processing of your main natural resource - forests. Managed to take first place in the world in the ranking of the competitiveness of the economy as a whole. Moreover, it was with the income from processing forests into goods with high added value that the Finns created their innovative technologies and products.

All this took place not because the theory and practice of Cheka realized some 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 scientific -technical business.

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

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

And countries with accumulated high-quality human capital have enormous advantages in creating stable conditions for increasing the quality of life, creating and developing a knowledge economy, information society, and developing civil society. 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 factor of development literally dictates a systematic and integrated approach when developing a concept or development 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 dictate particularly highlights the living conditions, work and quality of the tools of specialists who determine the creativity and creative energy of the country.

The core of the Cheka, of course, was and remains a person, but now an educated, creative and proactive 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 becoming ever 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 gradually loses its original meaning and economic content when defining Cheka, which the founders of Cheka 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 family, including the educated part of the labor force, knowledge, tools of intellectual and managerial work, living environment and work activity, ensuring the effective and rational functioning of the human capital as a productive factor of development.

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

The composition of the Cheka includes investments and the return on them in the tools of intellectual and managerial work, as well as investments in the operating environment of the Cheka, ensuring its effectiveness.

CC is a complex and distributed intensive development factor. It, like blood vessels in a living organism, permeates the entire economy and society. And ensures their functioning and development. Or, on the contrary, it depresses when its quality is low. Therefore, there are objective methodological difficulties in assessing its individual economic efficiency, its individual productivity, its individual contribution to GDP growth and to improving the quality of life. CHK, through its specialists and IT, contributes to the development and growth of the economy everywhere, in all types of economic and production activities.

CHK contributes to improving the quality and productivity of labor in all types of life activities and life support. In all types of economic activity and management, educated professionals determine the productivity and efficiency of labor. And knowledge, high-quality work, and the qualifications of specialists play a decisive role in the effectiveness of the functioning and work of institutions and organizations of all forms and types.

The main drivers for the development of Cheka are competition, investment, and innovation.

The innovative sector of the economy, the creative part of the elite, society, and the state are sources of accumulation of high-quality human capital, which determines the direction and pace of development of the country, region, municipality, and organizations. On the other hand, accumulated high-quality human capital underlies the innovation system and economy (IE).

The development processes of HC and IE constitute a single process of formation and development of the innovative information society and its economy.

How does human capital differ from human potential? The human potential index of a country or region is calculated using three indicators: GDP (or GRP), life expectancy and literacy. That is, this is a narrower concept than Cheka. The latter absorbs the concept of human potential as its enlarged component.

How is human capital different from labor resources? Labor resources are directly people, educated and uneducated, who determine skilled and unskilled labor. Human capital is a much broader concept and includes, in addition to labor resources, accumulated investments (taking into account their depreciation) in education, science, health, safety, quality of life, tools for intellectual work and the environment that ensures the effective functioning of the human capital.

Investments in the formation of an effective elite, including in the organization of competition, are one of the most important investments in the Cheka. Since the times of the classics of science D. Toynbee and M. Weber, it has been known that it is the elite of the people who determine the vector of the direction of its development. Forward, sideways or backward.

An entrepreneurial resource is a creative resource, an intellectual resource for economic development. Therefore, investments in entrepreneurial resources are investments in the development of the human capital in terms of increasing its constructiveness, creativity and innovation. In particular, business angels are a necessary component of CHK.

Investments in institutional services are aimed at creating comfortable conditions for servicing government. institutions of citizens, including doctors, teachers, scientists, engineers, that is, the core of the Cheka, which helps improve the quality of their life and work.

With such an expansion of the economic category “human capital”, it emerges, as already noted, from the “flesh” of a person. People's brains do not work effectively when the quality of life is poor, when safety is low, or when the environment where a person lives and works is aggressive or oppressive.

The foundation on which innovative economies and information societies are created is the rule of law, high quality human capital, high quality of life and an efficient industrial economy, which has smoothly transformed into a post-industrial or innovative economy.

National human capital includes social and political capital, national intellectual priorities, national competitive advantages and the natural potential of the nation.

National human capital is measured by its value, calculated various methods- by investment, discounting method and others.

National human capital makes up more than half of the national wealth of each developing country and over 70-80% of the developed countries of the world.

The characteristics of national human capital determined the historical development of world civilizations and countries of the world. National human capital in the 20th and 21st centuries was and remains the main intensive factor in the development of the economy and society.

Estimates of the value of national human capital in countries around the world

The value of the national human capital of the world's countries was assessed by World Bank specialists based on the cost method.

Estimates of the components of human capital based on the costs of the state, families, entrepreneurs and various funds were used. They allow us to determine the current annual costs of society for the reproduction of human capital.

In the USA, the value of human capital at the end of the 20th century was $95 trillion, or 77% of the national wealth (NW), 26% of the global total value of the human capital.

The value of the global human capital amounted to $365 trillion, or 66% of global wealth, 384% of the US level.

For China, these figures are: $25 trillion, 77% of the total NB, 7% of the global total of HC and 26% of the US level. For Brazil, respectively: $9 trillion; 74%, 2% and 9%. For India: 7 trillion; 58%, 2%; 7%.

For Russia the figures are: $30 trillion; 50 %; 8 %; 32%.

The G7 countries and the EEC accounted for 59% of the global HC during the calculation period, which is 78% of their national wealth.

Human capital in most countries exceeded half of the accumulated national wealth (the exception is the OPEC countries). The percentage of HC is significantly influenced by the cost of natural resources. In particular, for Russia the share of the cost of natural resources is relatively large.

The bulk of the world's human capital is concentrated in developed countries. This is due to the fact that investment in human capital over the last half century in these countries has significantly outpaced investment in physical capital. In the United States, the ratio of “investment in people” to productive investment (social spending on education, health care and social security as a percentage of industrial investment) was 194% in 1970, and 318% in 1990.

There are certain difficulties in comparatively assessing the value of human capital in countries with different levels of development. The human capital of an underdeveloped country and a developed country has significantly different productivity per unit of capital, as well as very different quality (for example, significantly different quality of education and health care). To assess the effectiveness of national human capital, factor analysis methods are used using country-specific international indices and indicators. At the same time, the values of the HR efficiency coefficient for different countries differ significantly, which is close to the differences in their labor productivity. The methodology for measuring national human capital is outlined in the work.

The value of Russian national human capital has been declining over the past 20 years due to low investments in it and the degradation of education, medicine, and science.

National human capital and historical development of countries and civilizations

The economic category “human capital” was formed gradually. And at the first stage, the composition of the Cheka included a small number of components - upbringing, education, knowledge, health. Moreover, for a long time, human capital was considered only a social factor of development, that is, a cost factor, from the point of view of the theory of economic growth. It was believed that investments in upbringing and education were unproductive and costly. In the second half of the 20th century, attitudes towards human capital and education gradually changed dramatically.

In fact, it was investments in education and science that in the past ensured the accelerated development of Western civilization - Europe and North America in comparison with China, India and other countries. Studies of the development of civilizations and countries in past centuries show that human capital even then was one of the main development factors that predetermined the successes of some countries and the failures of others.

Western civilization, at a certain historical stage, won the global historical competition with more ancient civilizations precisely due to the more rapid growth of human capital, including education, in the Middle Ages. At the end of the 18th century Western Europe surpassed China (and India) by one and a half times in terms of per capita GDP and doubled in terms of population literacy. The latter circumstance, coupled with economic freedom and then democracy, became the main factor in the economic success of Europeans, as well as the United States and other Anglo-Saxon countries.

The influence of human capital on economic growth is illustrated by the example of Japan. In the country Rising Sun, which has maintained isolationist policies for centuries, has always had high levels of human capital, including education and life expectancy. In 1913, the average number of years of education for adults in Japan was 5.4 years, in Italy - 4.8, in the USA - 8.3 years, and average life expectancy - 51 years (about the same as in Europe and the USA). In Russia, these figures were equal: 1-1.2 years and 33-35 years. Therefore, in terms of the level of starting human capital, Japan turned out to be ready in the 20th century to make a technological breakthrough and become one of the leading countries in the world.

Human capital is an independent complex intensive factor of development, in fact, the foundation of GDP growth in combination with innovation and high technology in modern conditions. The difference between this complex intensive factor and natural resources, classical labor and ordinary capital is the need for constant increased investment in it and the existence of a significant time lag in the return on these investments. In the developed countries of the world at the end of the 1990s, about 70% of all funds were invested in human capital, and only about 30% in physical capital. Moreover, the main share of investments in human capital in the advanced countries of the world is carried out by the state. And this is precisely one of its most important functions in terms of state regulation of the economy.

Analysis of the processes of change in technological structures of the economy and types of societies shows that human capital, the cycles of its growth and development are the main factors in the generation of innovative waves of development and cyclical development of the world economy and society.

Given the low level and quality of human capital, investments in high-tech industries do not yield returns. The relatively rapid successes of the Finns, Irish, Japanese, Chinese (Taiwan, Hong Kong, Singapore, China, etc.), Koreans, and newly developed European countries (Greece, Spain, Portugal) confirm the conclusion that the foundation for the formation of human capital is high culture the bulk of the population of these countries.

Structure, type and methods of assessing the value of human capital

Structure

At one time, upbringing, education and basic science were considered a costly burden on the economy. Then the understanding of their importance as factors in the development of the economy and society changed. Education, science, and mentality as components of human capital, and the Cheka itself as a whole, have become the main factor in the growth and development of the modern economy, the development of society and improving the quality of life. The core of the Cheka, of course, was and remains man. Human capital itself now determines the main share of the national wealth of countries, regions, municipalities and organizations.

With the development and complexity of the concept and economic category of “human capital,” its structure also became more complex.

Human capital is formed, first of all, through investments in improving the level and quality of life of the population. Including - in upbringing, education, health, knowledge (science), entrepreneurial ability and climate, in information support for labor, in the formation of an effective elite, in the safety of citizens and businesses 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 still observed in Russia. The Cheka is not a simple number of people, ordinary workers. Cheka is professionalism, knowledge, information services, health and optimism, law-abiding citizens, creativity and efficiency of the elite, etc.

Investments in the components of the Cheka constitute its structure: upbringing, education, health, science, personal safety, entrepreneurial ability, investments in training the elite, tools for intellectual work, information services, etc.

Types of Human Capital

Human capital can be divided into negative human capital (destructive) and positive (creative) human capital according to the degree of efficiency as a productive factor. Between these extreme states and the components of the total human capital, there are states and components of the human capital that are intermediate in effectiveness.

This is part of the accumulated human capital, which does not provide any useful return on investment in it for society, the economy and impedes the growth of the quality of life of the population, the development of society and the individual. Not every investment in upbringing and education is useful and increases HC. An incorrigible criminal, a hired killer is a lost investment in them for society and the family. A significant contribution to the accumulated negative human capital is made by corrupt officials, criminals, drug addicts, and excessive drinkers of alcohol. And just quitters, slackers and thieving people. And, on the contrary, a significant share of the positive part of the Cheka is made up of workaholics, professionals, and world-class specialists. Negative accumulated human capital is formed on the basis of the negative aspects of the nation’s mentality, on the low culture of the population, including its market components (in particular, work ethics and entrepreneurship). Negative traditions of government structure and the functioning of state institutions on the basis of lack of freedom and underdevelopment of civil society, on the basis of investments in pseudo-upbringing, pseudo-education and pseudo-knowledge, in pseudo-science and pseudo-culture, contribute to it. A particularly significant contribution to the negative accumulated human capital can be made by the active part of the nation - its elite, since it is they who determine the policy and development strategy of the country, and lead the nation along the path of either progress, or stagnation (stagnation) or even regression.

Negative human capital requires additional investment in human capital to change the essence of knowledge and experience. To change the educational process, to change innovation and investment potential, to change better side mentality of the population and improving its culture. In this case, additional investments are required to compensate for the negative capital accumulated in the past.

Ineffective investments in the Cheka - investments in ineffective projects or family costs to improve the quality of the components of the Cheka, associated with corruption, unprofessionalism, false or suboptimal development ideology, family dysfunction, etc. In fact, this is an investment in the negative component of the Cheka. Ineffective investments, in particular, are: - investments in those incapable of learning and perception modern knowledge individuals who give zero or insignificant results; - in an ineffective and corrupt educational process; - into a system of knowledge that is formed around a false core; - in false or ineffective R&D, projects, innovations.

The accumulated negative human capital begins to fully manifest itself during periods of bifurcations - in conditions of highly disequilibrium states. In this case, there is a transition to another coordinate system (in particular, to another economic and political space), and the Cheka can change its sign and magnitude. In particular, during the country's transition to another economic and political system, during a sharp transition to another, significantly higher technological level (for enterprises and industries). This means that the accumulated human capital, primarily in the form of accumulated mentality, experience and knowledge, as well as existing education, is not suitable for solving new problems of a more complex level, tasks within the framework of a different development paradigm. And when moving to another coordinate system, to radically different requirements for the level and quality of human capital, the accumulated old human capital becomes negative and becomes a brake on development. And new additional investments are needed in the Cheka for its modification and development.

An example of ineffective investments is the investment in chemical warfare agents (CWA) in the USSR. There were almost twice as many of them created as in the rest of the world. Billions of dollars were spent. And it was necessary to spend almost the same amount of money on the destruction and disposal of chemical agents as on their production in the past. Another close example is investment in the production of tanks in the USSR. They were also produced more than in the rest of the world. Military doctrine has changed, tanks now play a lesser role in it, and investments in them have yielded zero return. They are difficult to use for peaceful purposes and impossible to sell - they are outdated.

Let us once again explain the essence of the negativity of the unproductive component of human capital. It is determined by the fact that if a person is a bearer of knowledge that does not meet modern requirements of science, technology, production, management, social sphere, etc., then retraining him often requires much more money than training the corresponding employee with zero. Or inviting an outside employee. In other words, if the quality of work is determined by pseudo-knowledge, then a fundamental change in this quality is more expensive than the formation of qualitatively new work on a modern educational basis and on the basis of other workers. In this regard, enormous difficulties lie, in particular, on the path to creating a Russian innovation system and venture business. The main obstacle here is the negative components of human capital in terms of innovative entrepreneurial ability, mentality, experience and knowledge of Russians in this area. These same problems stand in the way of introducing innovations at Russian enterprises. So far, investments in this area have not yielded adequate returns. The share of the negative component in the accumulated human capital and, accordingly, the effectiveness of investments in human capital in different countries of the world varies greatly. The efficiency of investments in HC is characterized by the conversion coefficients of investments in HC at the country level and for regions of the Russian Federation.

Positive human capital(creative or innovative) are defined as accumulated HC, providing a useful return on investment in it in the processes of development and growth. In particular, from investments in improving and maintaining the quality of life of the population, in the growth of innovative potential and institutional potential. In the development of the education system, the growth of knowledge, the development of science, the improvement of public health. To improve the quality and availability of information. CHK is an inertial productive factor. Investments in it yield returns only after some time. The size and quality of human capital depend, first of all, on the mentality, education, knowledge and health of the population. In a historically short period of time, you can get a significant return on investment in education, knowledge, health, but not in the mentality that has been formed over centuries. At the same time, the mentality of the population can significantly reduce the transformation rates of investments in HC and even make investments in HC completely ineffective.

Passive human capital- human capital that does not contribute to the country’s development processes, to the innovative economy, and is aimed mainly at its own consumption of material goods.

The fact that the human capital cannot be changed in a short time, especially with a significant amount of negative accumulated human capital, in essence, is the main problem in the development of the Russian economy from the point of view of the theory of human capital development.

The most important component of the Cheka is labor, its quality and productivity. The quality of work, in turn, is determined by the mentality of the population and the quality of life. Labor in Russia, unfortunately, has been and remains traditionally of low quality (that is, the products of Russian enterprises, with the exception of raw materials and primary products from them, are uncompetitive on world markets, productivity and labor intensity are low). The energy consumption of Russian products is twice or three times higher, depending on the industry, than in countries with efficient production. And labor productivity is several times lower than in developed countries. Low-productivity and low-quality labor significantly reduces the accumulated Russian human capital and reduces its quality.

Methods for assessing the value of human capital

There are various methodological approaches to calculating the cost of human capital. J. Kendrick proposed a costly method for calculating the value of human capital - based on statistical data, calculate the accumulation of investments in people. This technique turned out to be convenient for the United States, where extensive and reliable statistical data is available. J. Kendrick included in investments in the human capital the costs of the family and society for raising children until they reach working age and obtain a certain specialty, for retraining, advanced training, healthcare, labor migration, etc. He also included investments in housing in savings, household durable goods, household inventories, research and development expenditures. As a result of his calculations, he found that human capital in the 1970s accounted for more than half of the accumulated national wealth of the United States (excluding public investment). Kedrick's method made it possible to evaluate human capital accumulation at its full “replacement cost.” But it did not make it possible to calculate the “net value” of human capital (minus its “wear and tear”). This method did not contain a technique for separating from the total amount of costs the part of the costs used for the reproduction of human capital for its actual accumulation. The work of J. Mincer assessed the contribution of education and duration of employment to human capital. Based on US statistics from the 1980s, Mincer obtained the dependence of the effectiveness of the Cheka on the number of years of general education, professional training and the age of the employee.

The FRASCAT methodology is based on detailed information in the United States on the costs of science since 1920. The methodology took into account the time lag between the period of R&D and the period of their implementation in accumulated human capital as an increase in the stock of knowledge and experience. The average service life of this type of capital was taken to be 18 years. The calculation results turned out to be close to the results of other researchers. The calculation algorithm was as follows. 1. Total current expenditures on science (for basic research, applied research, OCD). 2. Accumulation over the period. 3. Changes in inventories. 4. Consumption for the current period. 5. Gross accumulation. 6. Pure accumulation. International economic and financial institutions are showing constant interest in the problem of human capital. The UN Economic and Social Council (ECOSOC) back in the 1970s. prepared a document on the strategy for the further development of mankind, which raised the problem of the role and importance of the human factor in global economic development. This study created methods for calculating some components of human capital: the average life expectancy of one generation, the duration of the active working period, the net balance of the labor force, the family life cycle, etc. The cost of human capital included the cost of education, training and training of new workers, the cost of advanced training , costs of extending the working period, losses due to illness, mortality, etc.

A significant contribution to the development of an expanded concept of national wealth (taking into account the contribution of the Cheka) was made by World Bank analysts, who published a series of works that substantiated this concept. The World Bank methodology summarizes the results and methods for assessing human capital of other schools and authors. The WB methodology, in particular, takes into account accumulated knowledge and other components of human capital.

Sources of HC are selected according to the groupings of costs for the relevant areas. These are science, education, culture and art, healthcare and information support.

These sources must be supplemented with the following: investments in the safety of the population and entrepreneurs - ensure the accumulation of all other components of human capital, ensure the realization of a person’s creative and professional potential, ensure the maintenance and growth of the quality of life; investments in training the elite of society; investments in entrepreneurial capacity and entrepreneurial climate - public and private investments in small businesses and venture capital. Investments in creating conditions for maintaining and developing entrepreneurial ability ensure its implementation as an economic productive resource of the country; investments in raising children; investments in changing the mentality of the population in positive side- this is an investment in the culture of the population, which determines the effectiveness of human capital; investments in institutional services for the population - the country's institutions should contribute to the disclosure and implementation of the creative and professional abilities of the population, improve the quality of life of the population, especially in terms of reducing bureaucratic pressure on it; investments in knowledge associated with inviting specialists, creative people and other talented and highly professional people from other countries who significantly increase human capital; investments in the development of economic freedom, including freedom of labor migration.

The results of calculations of human capital in Russia and the CIS countries based on the cost method using the algorithm of World Bank specialists are presented in the works. Estimates of the components of human capital based on the costs of the state, families, entrepreneurs and various funds were used. They make it possible to determine the current annual costs of society for the reproduction of Russian human capital. To assess the value of real savings, the authors of the work used the calculation of the “true savings” indicator according to the methods of World Bank specialists.

Human capital in most countries exceeds half of the accumulated national wealth (the exception is OPEC countries). This reflects the high level of development of these countries. The percentage of HC is significantly influenced by the cost of natural resources. In particular, for Russia the share of the cost of natural resources is large.

It should be noted that the above methodology for assessing human capital by cost, which is quite correct for developed countries with effective government systems and efficient economies, produces a significant error for developing countries and countries with transition economies. There are certain difficulties in comparatively assessing the value of HC from different countries. The human capital of an underdeveloped country and a developed country has very different productivity per unit of capital, very different levels and quality.

This is driven by the growing income gap between people with and without world-class higher education. According to data for 1990, Americans with primary education had a total lifetime income of $756 thousand, with higher education - $1,720 thousand. That is, Americans with higher education had an average income of $1 million more . High pay for skilled and intellectual labor is one of the main incentives for acquiring knowledge in developed countries and the main factor in their development.

In turn, the high image of intellectual labor, its enormous importance for the knowledge economy, generates powerful synergistic effects of strengthening the total intelligence of the country, industries, corporations, and ultimately, the total human capital of the country. Hence the enormous advantages of the developed countries of the world and problems for countries with catching up economies trying to join their ranks.

Modern methods for measuring the value and quality of human capital are given in the works.

An analysis of modern methods for measuring human capital shows that the most accurate methods for measuring it are by its share in national wealth or in GDP, as an intensive productive factor.

Human capital is the main factor in the formation of the “knowledge economy”

All these provisions are included in one form or another (usually in a truncated and scholastic manner), both in the federal innovation strategy and in regional innovation strategies, programs and laws.

Essentially, an understanding of what needs to be done to create a national IP from the point of view of theory and experience of developed countries has matured at all levels of government (those who write programs and strategies). However, there has been little real progress in solving the problem.

The creative core, the engine of IP and the economy is the venture business. Venture business is by definition a risky and highly profitable business (if successful). And in this case, the participation of the state as a regulator and investor is generally accepted. The state takes on some of the risks. The venture business is aimed at implementing major, sometimes breakthrough innovations, innovations emanating from fundamental science. Therefore, the participation of the state in it on the basis of public-private partnership is necessary and useful.

Venture capitalists - specialists, managers and business angels - are especially highly professional, gifted people who require, accordingly, comfortable living and working conditions, and high incomes. Venture capitalists - specialists and entrepreneurs - are in short supply around the world. In the context of the globalization of the world economy and open borders, business angels and other venture capitalists “fly” to where it is more convenient and profitable for them.

World experience has shown that at the early stage of creating a venture business, highly professional venture capitalists can be raised and formed only on the basis of an effective venture school, for example, in Silicon Valley, as Israel and Singapore did. This way of establishing a venture business, in one form or another, has been used by all countries in which IE and venture business have already been created. The foundation on which innovative economies and information societies are created is the rule of law, high quality human capital, high quality of life and an efficient industrial economy, which has smoothly transformed into a post-industrial or innovative economy.

Venture business is of particular importance in the processes of creating an effective and competitive economy. High technologies allow a country with a “catching up” economy to approach the developed countries of the world in terms of per capita income in the foreseeable future. The mission of generators of high technologies and innovative products is carried out by venture technology and scientific-technical businesses.

The accumulated experience of the functioning of the Russian Venture Company, the implementation of the “Federal Target Program Electronic Russia (2002-2010)” and other private programs for the development of high technologies and the introduction of innovations, according to the assessments of the President of the Russian Federation Dmitry Medvedev, independent experts and analysts, showed that their activities have not yet led to any significant positive results. Venture business and innovative activity in Russia and Voronezh, in particular, are not yet economically beneficial for entrepreneurs and the state. And no favorable environment and conditions have been created for this activity.

The tasks of creating a national innovation system and the innovation sector of the economy, technological modernization of the economy, development of science and high technology were set in all federal and regional development strategies and programs. There are no changes yet. Dmitry Medvedev, at a meeting on May 15, 2009 on issues of modernization and technological development of the economy, said on this matter:

“The main problem is that, despite the correct program settings, there are no significant changes in the technological level of our economy. And this is especially obvious during the global financial and economic crisis. So far, neither the small firms that we have tried and are trying to create, nor technology parks, nor various kinds of technology transfer centers, all kinds of new forms that we are trying to use, nor the Russian Venture Company, nor technology-innovation special economic zones have shown serious results. All this basically, I must admit frankly, exists only on paper.”

Why does this happen? The answer is, in principle, not complicated. Corruption and criminalization of the economy and society reduce the effectiveness of the constructive components of human capital. Reduce the efficiency of labor, the economy, business and the state.

Innovation in a market economy is a consequence of free competition in markets. In the absence of a source of innovation generation - competition - innovations themselves are absent or are random in nature. The desire and need to make a big profit pushes the private owner to do something special, useful, which competitors do not have, so that his product is more attractive and sells better. Economic freedom, competitive markets, the rule of law and private property - these are the factors that automatically generate innovation, demand for it, investment in innovative product and pave the way between an idea and an innovative product. Outside of a market economy with free competitive markets, it is a priori impossible to create an innovative economy and self-sustaining generation of innovations and innovative goods. This has been proven by the experience of the USSR and other socialist countries in this area.

A feature of the innovative economy, venture business and information society is the fact that favorable conditions for venture business and a high quality of life must be achieved in relation to the developed countries of the world in the context of globalization and open borders and economies. Venture capitalists, as particularly highly professional specialists, work where they are most comfortable, and where favorable and competitive conditions are created for business. It was not possible to create such conditions in the USSR. And that's why he lost the science and technology competition. Current conditions are less favorable for this than they were in the USSR. The remnants of former science and education, as well as other components of the innovation system, do not correspond to the level of the knowledge economy. Therefore, Russian business angels prefer to invest money in foreign technology parks, for example, in India. In Russia, the profit on venture projects is noticeably lower, and the risks are very high. Including criminal risk.

The main reasons for the slowdown in scientific, technical and innovation activity in Russia - low quality of human capital and an unfavorable, depressing environment for innovation. The quality of all components of Russian human capital has decreased: education, science, security of citizens and businesses, elite, specialists. And for venture business and the innovation economy, we must first build a reliable foundation.

Notes

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Korchagin Yu. A. Broad concept of human capital. - Voronezh: TsIRE, 2009.
SHULGINA E. V. DEVELOPMENT OF HUMAN POTENTIAL. Moscow Business School, Moscow, Russia
Shultz T. Human Capital in the International Encyclopedia of the Social Sciences. - N.Y., 1968, vol. 6.
Becker, Gary S. Human Capital. - N.Y.: Columbia University Press, 1964.
Kendrick J. The total capital of the United States and its functioning. - M.: Progress, 1976
Korchagin Yu. A. Investment strategy. - Rostov-on-Don: Phoenix, 2006 ISBN 5-222-08440-X
Korchagin Yu. A. Russian human capital: a factor of development or degradation? - Voronezh: TsIRE, 2005.
Fischer S., Dornbusch R., Schmalenzi R. Economic theory. - M., Unity, 2002.
“The Economics of Resources and the Resources of Economics” (1974).
Kendrick J. Economic growth and capital formation. Questions of Economics, 1976, No. 11.

Emergence human capital theories was due to the need for a deeper understanding of the action of factors of production, in particular the nature of the unusually high share of changes in total output that is not explained by the quantitative increase in the factors of production used - labor and capital, as well as the need to offer a universal interpretation of the phenomenon of income inequality.

The economic approach to human behavior became widespread thanks to two Nobel laureates - T. Schultz and G. Becker. The concept was introduced into scientific circulation "human capital" as a set of qualities, skills, abilities and knowledge of a person used by him for production (to generate income) or consumer purposes. This capital is called human, because it is embodied in the person’s personality; it is capital because it serves as a source of either future income or future consumption, or both.

Human capital, like physical capital, is a durable good, but it can become obsolete, physically wear out, and it can become obsolete even before its physical wear occurs; its value can rise and fall depending on changes in the supply of complementary (mutually complementary) production factors and in the demand for their joint products.

The difference between human capital and physical capital is its inseparability from the carrier. The carrier of human capital itself cannot be the subject of purchase and sale, at least in modern society. It can only be rented, i.e. engage in work under an employment contract.

The following are distinguished: types of human capital.

Total human capital– this is knowledge and skills, regardless of where they were acquired, they can be used in other workplaces.

Specific human capital – it is knowledge and skills that have value where they are acquired.

The production of general human capital is ensured by a system of formal education, including general and special education, which improves the quality, level and stock of human knowledge. Specific human capital is formed by spending on training to train workers directly on the job.

Human capital can be positive or negative.

Positive human capital defined as the accumulated human capital that provides a useful return on investment.

Negative human capital- part of the accumulated human capital that does not provide any useful return on investment.

The accumulation of human capital depends on the human potential available in a given society. To evaluate it, the currently widely used human development index(HDI), which characterizes different aspects of the development of society. The HDI of a country or region reflects the three leading factors of life: income, longevity, and education.

Human capital theory

The theory of human capital is based on the achievements of institutional theory, neoclassical theory, neo-Keynesianism and other economic theories that recognize the fact that people represent the same capital for society as machines. Human capital theory states that where the quality and quantity of human capital is higher, financial and physical capital are concentrated accordingly. And where low-quality human capital has been formed over centuries, even a large amount of it will not help.

A special role in the development of the theory of human capital belongs to the American scientist, Nobel Prize winner G. Becker, whose contribution is to strengthen its theoretical justification from the standpoint of microeconomic analysis and significantly expand the possibilities of its practical application.

Historical reference

Gary Becker born in 1930 in Pottstown (Pennsylvania). After graduating from Princeton University in 1951, he worked at Princeton and Columbia universities. He received his doctorate in Chicago in 1955. After 1969, he was a professor at the University of Chicago and a fellow at the Hoover Institution for Revolution, War and Peace at Stanford University. As a professor of economics and sociology at the University of Chicago in 1992. Becker was awarded the Nobel Prize in Economics for "extending the scope of microeconomic analysis to a range of aspects of human behavior and interaction, including non-market behavior."

G. Becker became the founder of a whole family of new sections of economic theory - the economics of discrimination, the theory of human capital, the economics of crime, household economics, etc. Becker’s research in the field of economic analysis of the family was called the “new theory of consumption” ( new theory of consumption).

G. Becker developed the microeconomic foundations of the theory of human capital in his fundamental work in 1962. "Human Capital". The model formulated in it became the basis for all subsequent research in this area. In Becker’s view, any worker can be considered as a combination of one unit of simple labor and a certain amount of “human capital” embodied in it; accordingly, his wages (income) are a combination of the market price of one hundred simple labor and income from investments made in a person.

The totality of direct monetary costs for education and income lost during the time spent on training is investments in human capital. Becker justified the possibility of calculating the profitability of such investments both from the standpoint of an individual and society as a whole, considering this process by analogy with rates of return on capital.

To assess the economic efficiency of education for the worker himself, additional income from higher education is determined as follows: from the income of those who graduated from college, the income of workers with average general education. Education is profitable for a worker if the difference between additional income and the real cost of expenses is positive.

Thus, return rates act as a regulator of the distribution of investments between different types and levels of education. High rates of return indicate underinvestment, low rates indicate overinvestment.

American scientist, Nobel Prize laureate T. Schultz1, studying the problems of economic recovery after the war, came to the conclusion that the speed of recovery in different countries was related to the health and education of the population. Schultz proved that human capital has the necessary characteristics of a productive nature and is able to accumulate and reproduce. Education makes people more productive, and good healthcare keeps investment in education and the ability to produce.

T. Schultz and G. Becker are credited with popularizing the idea of human capital; their efforts gave impetus to numerous studies and initiated active efforts to motivate investment in vocational and technical education by international financial institutions.

Introduction

Human capital is a set of qualities that determine productivity and can become sources of income for an individual, family, enterprise and society.

The phrase was first used by Theodore Schultz, and his follower Gary Becker developed this idea, justifying the effectiveness of investments in human capital and formulating an economic approach to human behavior.

The category “human capital” is used when considering specific person, because it was the opportunity to receive additional income from investments in one’s development that gave grounds to draw a parallel between physical and human capital.

Initially, human capital was understood only as a set of investments in a person that increases his ability to work - education and professional skills. Subsequently, the concept of human capital expanded significantly.

The latest calculations made by World Bank experts include consumer spending - family expenses on food, clothing, housing, education, health care, culture, and government spending for these purposes.

The purpose of this work: to study the features of the formation and development of human capital.

In this case, it is necessary to solve the following problems:

show the features of human capital formation.

The work consists of an introduction, two main chapters, a conclusion and a list of references.

. Human capital: concept, structure

To effectively manage any system, it is necessary to clearly define its resources and highlight the features of the impact on them. Currently, human capital is becoming the most important resource; adequate and effective management of it becomes the key to the successful functioning of enterprises, industries, and the state as a whole.

The formation of the theory of human capital began in the 18th-19th centuries by such economists as W. Petty, A. Smith, K. Marx. The human capital was first calculated by William Petty in his book “Political Arithmetic” (1676), while everything material in England was valued at 250 million pounds sterling, and the value of the population of England, according to his calculations, was 417 million pounds sterling. However, with the development of machine production, the value of a person decreases - if previously the decisive factor was the skills of the worker, and not the means of his labor, then with the improvement of machines and production, a person began to be considered as an addition to the machine, “simple labor power.” W. Petty’s ideas were developed by Adam Smith, according to which the dignity of people lies in their naturally given differences, and upbringing and education deepen these differences, thereby forming a specification. If a person correctly understands his purpose, then he begins to specialize in the area that brings him highest income because it has a comparative advantage. The division of labor deepens and consolidates this specification.

In the 19th and 20th centuries, the focus of economists' attention shifted to the problems of effective business organization and the creation of a high-quality workforce with the reasonable use of resources. The development of these issues was carried out by J. McCulloch, I. Thunen, I. Fisher, who believe that man himself is capital, as well as J. Mill, N. Senior, F. List, from whose point of view capital is not man himself, but only the qualities and abilities inherited and acquired by him. Also in the second half of the 19th and early 20th centuries, there was a sharp increase in labor productivity as a result of the technical revolution. As a result, the number of highly qualified workers increased, and unskilled labor, for example, child labor, ceased to be used at all. It was at this time that the foundations of the scientific organization of labor and management of F.U. were laid. Taylor, G. Ford began to use the theory of welfare capitalism in practice, reducing staff turnover in enterprises and introducing mass production, and E. Mayo developed issues of industrial psychology, which later formed the basis of the doctrine of “human relations”.

In the economic literature, despite long-term research, there is no certainty regarding the essence of the category of human capital and different views are noted. Among the debatable provisions within the framework of the theory of human capital, the following are considered: the connection of the concept of “human capital” with living human personality, the ratio of human and physical capital, the definition of human capital from the point of view of the theory of factors of production.

The term “human capital” itself was the first to use this term in the scientific literature by T. Schultz, and G. Becker translated this concept to the micro level. According to G. Becker, the human capital of an enterprise is a set of skills, knowledge and abilities of a person.

There is an expanded interpretation of the concept of “human capital”. Some economists include in it not only the productive qualities of individuals and the ability to earn income, but also social, psychological, ideological and moral-ethical qualities (L. Turow, J. Kendrick, V.I. Martsinkevich and others). The advantage of the broad concept of human capital is the following:

firstly, within the framework of this approach, human capital is interpreted from the perspective of social relations;

secondly, human capital is a value not only for the individual, but also for society. It is directly interested in investment projects in people that change his current and future needs and preferences in such a way that they are compatible with the needs and preferences of both the individual firm and society itself. Therefore, human capital is considered not only as an individual, but also a social good;

thirdly, the concept of social capital allows us to determine that collective interaction is a powerful factor in the growth of both social and individual productivity.

In general, all definitions of human capital can be divided into two groups, which reflect its various characteristics:

the first group interprets human capital as the totality of a person’s reserves of abilities and qualities used in the process of producing goods;

the second group characterizes human capital from the investment side, emphasizing the fact of their accumulation as a result of investments in people.

An analysis of existing positions allows us to state that in a narrow sense, human capital is usually understood as a set or stock of human qualities, among which knowledge and productive abilities prevail.

Thus, the evolution of the views of economists went from the concept of “labor force” to the concept of “human capital” over 3 centuries, and currently the following definition is used: human capital is a certain stock of health, knowledge, and skills formed as a result of investments and accumulated by a person , abilities, motivations, which are expediently used in one or another sphere of social reproduction, contribute to the growth of labor productivity and production efficiency and thereby influence the growth of earnings (income) this person.

Considering human capital as one of the main resources of the economy, we note its main features in comparison with other types of capital:

Human capital can be increased or decreased over time. Increasing capital requires efforts both from the bearer of capital - the individual, and from society, while the effectiveness of investments in human capital also depends both on the individual, to a greater extent, and on the external environment. A decrease in human capital, by analogy with physical capital, is associated with physical and moral wear and tear, so human capital can also be depreciated.

Investments in human capital are more long-term in nature, the return on them is also longer and higher; For society, the return on investment in the Cheka is not only economic, but also social. At the same time, the income received by a person belongs entirely to him, and he manages it independently.

The functioning of human capital depends on the person himself, on his personal interest in this.

Some researchers note the inalienability of human capital from its carrier, however modern sources identify alienable types of human capital. However, both types of HC are characterized by a low degree of liquidity compared to other types of capital in industry.

The structure of human capital consists of a set of elements, such as innate skills and abilities, natural abilities, education, health, intellectual capital, motivation to work and learn, mobility, professional skills, abilities and competencies acquired by a person in the process of training or work. At the same time, there is no unified structure of the Cheka in the scientific literature. Different scientists include different numbers of elements (types) in the structure of human capital, while the classification of types of human capital in the scientific literature is reflected on different grounds and for different purposes. For example, this applies to the first two of the listed elements; currently there is no unambiguous approach to whether they are considered part of human capital or isolated separately. Human capital model, which includes knowledge, skills, social identity, abilities and cultural and moral potential can be seen in Fig. 1.

Figure 1 - Model of human capital composition

The currently widespread typology of human capital is as follows:

) inalienable types of human capital (illiquid capital): health capital (biophysical); cultural and moral capital; labor capital; intellectual capital; organizational and entrepreneurial capital;

) alienable types of human capital (liquid capital): social capital; customer capital (brand capital); structural capital; organizational capital.

In our opinion, physical skills should be added to inalienable capital, thanks to which a person can perform work; this is especially important for non-intellectual labor and underdeveloped countries. Also, by analogy with intellectual capital, inalienable human capital should include emotional intelligence, which represents all non-cognitive abilities, knowledge and competence that give a person the opportunity to successfully cope with various life situations. It consists of 5 main components, namely: intrapersonal skills, i.e. the ability to understand and manage your emotions; social or interpersonal skills; a person’s ability to adequately, timely, flexibly and effectively respond to changes; people's ability to cope with stress; the last group characterizes a positive attitude towards life. Creativity, entrepreneurship, and initiative can also be identified as personality traits that have a positive impact on human capital and are not included in any of the above elements.

Also, in our opinion, human capital should include the ability to effectively build interpersonal relationships, as well as the ability to find people mutual language with each other, to bind individuals into a team, or to effectively participate in the activities of an existing team, so this quality does not always correlate with leadership or charisma, but is closely related to social and cultural-moral types of capital.

2. Features of the formation of human capital

The development of material, intellectual and spiritual capabilities of a person, the accumulation of human capital is an important task of the state, because The economic growth of a country depends on the degree of formation of human capital: the greater potential each member of society has, the higher the intellectual resource of the entire country, the more dynamic the rate of economic growth, the greater the opportunities of society. Human development involves:

creating favorable conditions for the development of the abilities of each person, improving the living conditions of Russian citizens and the quality social environment;

increasing the competitiveness of human capital and the social sectors of the economy that support it.

Currently, psychologists, sociologists, and economists are studying the problems of human capital formation at three levels:

at the micro level - at the level of the individual;

at the meso level - the level of enterprises and organizations;

at the macro level - the state level.

The structure of human capital can be represented as follows (Figure 2).

Figure 2 - The process of forming social human capital

Human capital at the macro level is the human capital accumulated by the entire society, which is the national wealth of the country. At the macro level, the HC values of all regions of the country are combined.

The Cheka as a key point of development is noted in all strategic documents of the regions of the Russian Federation, since it is at the meso level that the social life of the population is created and implemented economic activity enterprises.

At the regional level, the HC values of individual enterprises are combined into a single whole. The total capital capital of enterprises determines the level of the socio-economic situation of the region. The HR of an enterprise is not a simple sum of employees, but the sum of knowledge, information, talent, and abilities that all employees collectively have. It is the human capital, together with other factors of production, that activates manufacturing process and predetermines the performance of the enterprise.

Individual human capitals are continuously grouped into subsystems with a hierarchical structure. The interconnectedness of individual capitals in intertwining forms social capital. From Fig. Figure 2 shows that the human capital of each individual turns into the wealth of an enterprise - region - country. An individual who has a certain amount of knowledge, skills and other personal abilities, enters the labor market. In enterprises, it functions as an entity that generates income in one form or another. A region or a separate administrative-territorial entity (city, town) acts as a supporting social link. Any private, municipal, state, commercial, non-profit enterprise in the region creates a social or economic basis for people's lives. There is a process of continuous movement: the innate and formed capital of a person contributes to the development of the enterprise, enterprises create the socio-economic conditions for the growth of the human capital. Knowledge and skills come out of a person (body and brain) into the living environment around him in order to ensure a high quality of life and comfortable conditions for intellectual activity.

Human capital formation takes different kinds, forms and passes through the various stages of the human life cycle. 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. 3).

Figure 3 - Groups of factors that form human capital

The formation of human capital is the process of searching, renewing and improving high-quality productive characteristics of a person with which he acts in social production. The formation of human capital occurs through the creation of comfortable living conditions: income growth, good roads, landscaped courtyards, modern medical and educational services, and a cultural environment. And can be achieved through the use of government policies in the fields of health, education, culture and vocational training.

The conceptual model of the formation of human capital in the socio-economic system at various levels of its development: society, region, enterprise is shown in Fig. 4.

Figure 4 - Concept of the human capital formation model

The state of human capital is reflected in the Human Capital Index indicators related to the level of education, health and nutrition:

percentage of population undernourished;

under-five mortality rate;

general indicator of children's education in secondary school;

adult literacy rate.

In order to form human capital, the following is provided:

increasing the affordability of housing for citizens through mortgage mechanisms, promoting the use of financial instruments to stimulate the development of the housing market as a whole;

increasing information transparency and openness of the consumer lending market;

expanding opportunities for citizens to use educational loans;

promoting increased protection of the quality of life and personal well-being of citizens through life and property insurance;

promoting the development of additional pension insurance mechanisms.

Thus, the formation of human capital is a continuous ongoing process through which an individual achieves his highest potential and strives to integrate and optimize the combination of ongoing processes such as education, job search, employment, skill formation and personality development.

The formation of human capital is a long process (15-25 years). Each generation forms its human capital from scratch.

The formation of human capital begins before the birth of a child. Every child aged 3-4 years develops a culture of completely free access to any information. The development of a child’s abilities gives him the opportunity to freely manage his talents, to put as many concepts, skills, and abilities into his toolkit as possible. The development of a child is influenced by the results of his education, which can subsequently affect the development of the labor market. The amount of human capital acquired through the learning process depends on innate abilities.

The main period for the formation of human capital is the age from 13 to 23 years. This is the period of hormonal explosion, puberty, when nature gives the growing body a surge of enormous energy. This energy must be transformed at the stadium in order to improve health, at the student bench and in the theater, in order to receive education and culture, learn to set and achieve goals in life, and overcome obstacles. Formed human capital provides a person with a stable income, status in society, and self-sufficiency.

Thus, a feature of the process of human capital formation is that:

longevity makes the acquisition of human capital relatively more attractive for people of all ability levels;

increased innate abilities facilitate the acquisition of human capital.

The knowledge and skills embodied in a person are difficult to separate from human health, which also determines labor productivity. Public health policy is key to effectively building human capital. Access to medical care and proper nutrition increases life expectancy and helps people become more efficient at work. As the life expectancy of the population increases, it is beneficial for society to use the experience and skill of people, which allows them to do their jobs more efficiently.

The basis for the formation of human capital is the acquisition of new knowledge and skills. Therefore, the key element in the formation of human capital is education and Professional Development. Highly qualified specialists form a “comfortable cycle of humanity”, as they help achieve economical and efficient work and production growth in various industries at all levels of management, as well as enrich the national culture.

“In our time, competitive advantages are no longer determined by the size of the country, rich natural resources, or the power of financial capital. Now everything is decided by the level of education and the amount of knowledge accumulated by society.”

Modern management classic Peter F. Drucker noted “that the most valuable asset of any 20th century company was its production equipment. The most valuable asset of any 21st century organization—both commercial and non-profit—will be its knowledge workers and their productivity.”

Education improves the quality of life of people and their exercise of their civil rights and responsibilities. Education enriches a person's life by developing cognitive and social skills and by informing people of their rights and responsibilities as citizens.

Educated people have higher skills and are capable of effectively performing their work, and have a wider arsenal of tools to solve emerging problems and overcome difficulties. They are also better suited to perform more complex jobs, which often involve higher wages and greater economic benefits.

At the same time, workers with higher education are more productive than those with secondary education. Workers with secondary education are more productive than those with primary education, and workers with primary education are more productive than those without education.

The high role of education is also evidenced by Rosstat data. Thus, in 2012, the share of employed specialists with higher professional education in sectors of the national economy was 30.4% (in 2002 - 23.4%), with secondary vocational education - 26.2% (32.2%). At the same time, the share of students studying in higher professional educational institutions, during this time it increased from 5948 thousand people to 6074 thousand people.

Thus, human capital refers to the knowledge and skills embodied in a person, which play an important role in determining labor productivity and the ability to absorb new knowledge and master new technologies and innovations.

The formation of human capital promotes investment, enhances the development and implementation of new technologies and increases production output per employee.

Conclusion

human capital economy worker

By summarizing the above, the following conclusions can be drawn:

One of the best options for developing the country's economy is to activate, maintain and develop industry in the country, which is only possible with a significant focus on the problem of human capital.

Human capital is a combination of natural abilities, acquired knowledge, skills, abilities in the process of production activities, as well as mobility, motivation and physical condition of a person. In other words, human capital is a set of competencies that is expediently used by a person in one or another sphere of social reproduction and contributes to the growth of labor productivity and production efficiency.

Investments in human capital are the most profitable compared to other forms of capital, since they bring a fairly significant and long-lasting economic and social effect. 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. With the correct formation and rational development of existing human potential, the formation optimal structure human capital, determining the necessary proportions of physical and human capital in the country, as well as the effective long-term functioning of such institutions for supporting human capital as education, healthcare, social protection and guarantees for the population - the income, level and quality of life of both people and the country as a whole increases, and is also an important factor in increasing labor efficiency.

List of sources used

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The wealth of any country is its people. In the future, the country's economic growth is possible from increasing funding for such areas of the economy as the quality of the workforce, human capital, healthcare, culture and infrastructure. The development of human material, intellectual and spiritual capabilities, the accumulation of human capital becomes an important task of the state. The main priority of the country's budget expenditures is investment in human capital, and such expenditures are education, health care and culture.

The greater potential each member of society has, the higher the intellectual resource of the entire country, the more dynamic the rate of economic growth, the greater the opportunities of society. The development of human potential in Russia involves:

Creating favorable conditions for the development of the abilities of each person, improving the living conditions of Russian citizens and the quality of the social environment;
- increasing the competitiveness of human capital and the social sectors of the economy that support it.

Economic growth currently depends on the degree of formation of human capital, which is the process of expanding the knowledge, skills and capabilities of the people of a country.

Human capital refers to the knowledge and skills embodied in a person, which play an important role in determining labor productivity and the ability to absorb new knowledge and master new technologies and innovations.

The formation of human capital takes various types, forms and passes through various stages of the human life cycle. 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. The institutional environment necessary for an innovative socially oriented type of development in the long term is formed as a result of the development of human capital, and above all: education, healthcare, the pension system and housing. In order to ensure the implementation of the functions of financial markets in terms of the formation of human capital in Russia, the following is provided:

Increasing the affordability of housing for citizens through mortgage mechanisms, promoting the use of financial instruments to stimulate the development of the housing market as a whole;
- increasing information transparency and openness of the consumer lending market;
- expanding opportunities for citizens to use educational loans;
- assistance in increasing the level of protection of the quality of life and personal well-being of citizens through life and property insurance;
- promoting the development of additional pension insurance mechanisms.

The conceptual model of the formation of human capital in the socio-economic system at various levels of its development: society, region, enterprise is shown in Figure 1.

Figure 1 – Concept of the human capital formation model

The formation of human capital is a continuous ongoing process through which an individual achieves his highest potential and strives to integrate and optimize the combination of ongoing processes such as education, job search, employment, skills formation and personality development. Thus, the formation of human capital is associated with investments in people and their development as a creative and productive resource.

The formation of human capital is a long process of increasing the productive qualities of the workforce, ensuring a high level of education and improving skills. Human capital formation is critical to a country's long-term economic growth and provides the same benefits of new innovative technologies and more efficient industrial equipment. The interaction of people with each other influences the dissemination of knowledge in society. The transfer of knowledge in itself is not a value.

The process of human capital formation takes time (15 – 25 years), often leading to a higher standard of living for people within a country over several generations. The formation of human capital can be achieved through the use of government policies in the fields of health, education, culture and professional training.

The leading role in the formation of human capital that creates the knowledge economy is given to the cultural sector, which is due to the following circumstances:

The transition to an innovative type of economic development requires increasing professional requirements for personnel, including the level of intellectual and cultural development, which is possible only in a cultural environment that allows one to realize the goals and moral guidelines development of society;
- as the personality develops, the needs for its cultural and creative self-expression and the development of cultural and spiritual values accumulated by society grow. The need to satisfy these needs, in turn, stimulates the development of the market for cultural services.

Thus, society is critical to the formation of human capital.

Each generation forms its human capital from scratch. The formation of human capital begins before the birth of a child, when parents, through their behavior and decisions, determined the outcome of the child’s birth. A person from birth is endowed with unskilled labor, which does not require training and can be supplied to the labor market. An individual’s human capital is formed from childhood and is considered formed at the age of 23–25 years.

Every child aged 3–4 years develops a culture of completely free access to any information. The development of a child’s abilities gives him the opportunity to freely manage his talents, to put as many concepts, skills, and abilities into his toolkit as possible. The development of a child is influenced by the results of his education, which can subsequently affect the development of the labor market. The amount of human capital acquired through the learning process depends on innate abilities. The main period for the formation of human capital is the age from 13 to 23 years. This is the period of hormonal explosion, puberty, when nature gives the growing body a surge of enormous energy. This energy must be transformed (sublimated) at the stadium in order to improve health, at the student bench and in the theater, in order to receive education and culture, learn to set and achieve goals in life, and overcome obstacles. A person can become a skilled worker by acquiring human capital, which is characterized by a high content of knowledge, promotes innovation and the development of new ideas. Formed human capital provides a person with a stable income, status in society, and self-sufficiency.

A feature of the process of human capital formation is that:

Longevity makes the acquisition of human capital relatively more attractive for people of all ability levels;
- increased innate abilities facilitate the acquisition of human capital.

The knowledge and skills embodied in a person are difficult to separate from human health, which also determines labor productivity. Public health policy is key to effectively building human capital. Access to health care and proper nutrition increases life expectancy and helps people become more effective at work. As the life expectancy of the population increases, it is beneficial for society to use the experience and skill of people, which allows them to do their jobs more efficiently.

The basis for the formation of human capital is the acquisition of new knowledge and skills. Skill development is becoming a priority for the country's economic development. Education is an important tool for the formation of human capital. Education improves the quality of life of people and their exercise of their civil rights and responsibilities. Education enriches a person's life by developing cognitive and social skills and by informing people of their rights and responsibilities as citizens.

Workers with higher education are more productive than those with secondary education. Workers with secondary education are more productive than those with primary education, and workers with primary education are more productive than those without education.

For well-being and human well-being, the formation and accumulation of human capital is the main goal of the state’s economic policy. State forms of education are one of the most important means of forming human capital among low-income groups of the population. People from low-income segments of the population, without access to physical and financial resources, while having a high cost of their own human capital, acquire the opportunity to earn money and influence the level and quality of life.

Countries can invest in public schools as well as adult education to reap these benefits and also help build human capital.

Building human capital through education and training promotes investment, enhances the development and adoption of new technologies, and increases productivity per worker. However, the relationships between education, inequality, human capital creation and economic development and growth are complex and often unique to a country's context.

The accumulation of human capital precedes economic growth and serves as the basis for economic growth. The process of human capital accumulation represents investment in education and training. Investments in education are a tool that influences the labor income of people's life cycle. The degree of accumulation of human capital varies by culture, country, and region of residence of the bearer of human capital. Human capital can accumulate until a person retires. The accumulation of human capital, being endogenous, responds to incentives associated with changes in technological knowledge. Human capital accumulation endogenously tends to zero some time before retirement. Older workers have low motivation for professional training (retraining).

Developed countries have more financial resources to invest in human capital accumulation. In less developed countries, labor productivity is very low. To increase this potential there is a need to form human capital. In developing countries, the formation of human capital is carried out by the provision of public services for the introduction of new production methods and the creation of an education system.

The development of human capital occurs through the creation of comfortable living conditions: income growth, good roads, landscaped yards, modern medical and educational services, as well as a cultural environment.

The state of human capital in least developed countries is reflected in the Human Capital Index indicators related to the level of education, health and nutrition:

Percentage of population undernourished;
- mortality rate among children under five years of age;
- general indicator of children's education in secondary school;
- literacy rate among the adult population.

The complementarity of human and physical capital in an economy leads to accelerated investment in human and physical capital in the long term.

Along with the priority development of human capital and the service economy, the most important sector for the realization of knowledge, employment and income generation in the next 10–15 years will be the basic sectors of industry, transport, construction and the agricultural sector. It is in these sectors that Russia has significant competitive advantages, but it is here that the main barriers to growth and failures in efficiency have accumulated. Intensive technological renewal of all basic sectors of the economy, already based on new information nano- and biotechnologies, is the most important condition the success of innovative socially oriented development and the country's success in global competition.

Increased productivity of the workforce can be increased by providing higher levels of education and skills.

The formation of human capital increases the income, level and quality of life of people, and is also an important factor in increasing labor efficiency.

Bibliography

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