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

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

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

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

2) The authors of the theory of “human capital production” are Theodore Schultz and Yorem Ben-Poret (University of Chicago), Gary Becker and Jacob Mintzer (Columbia University), L. Turow (Massachusetts Institute of Technology), Richard Palmman (University of Wisconsin), Zvi Griliches (Harvard University), and others. This theory considered fundamental to Western economic thought.

Theodore William Schultz (1902-1998) - American economist, Nobel Prize laureate (1979). Born near Arlington (South Dakota, USA). He studied at college and graduate school at the University of Wisconsin, where in 1930 he received a doctorate in agricultural economics. He began his teaching career at Iowa State College. Four years later he headed the department of economic sociology. Since 1943 and for almost forty years, he has been a professor of economics at the University of Chicago. The teacher's activities were combined with active research work. In 1945, he prepared a collection of materials from the “Food for the World” conference, in which special attention is paid to food supply factors, issues of structure and migration of agricultural labor, professional qualifications of farmers, agricultural production technology and the direction of investment in farming. In Agriculture in an Unstable Economy (1945), he argued against poor land use because it led to soil erosion and other negative consequences for the agricultural economy.

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

Among his most famous works are " Production and well-being of agriculture", "Transformation of traditional agriculture" (1964), "Investing in people: the economics of population quality" (1981) and etc.

The American Economic Association awarded T.-V. Schultz medal named after F. Volker. He is professor emeritus of the University of Chicago; he has been awarded honorary degrees by the Universities of Illinois, Wisconsin, Dijon, Michigan, North Carolina and the Universidad Católica de Chile.

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

T.-V. Schultz argued that human capital is a form of capital because it serves as a source of future earnings or future satisfaction, or both. And he becomes human because he is an integral part of man.

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

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

Becker Harry-Stanley (born 1930) is an American economist, Nobel Prize laureate (1992). Born in Pottsville (Pennsylvania, USA). In 1948 he studied at the G. Madison High School in New York. In 1951 he graduated from Princeton University. His scientific career is connected with Columbia (1957-1969) and the University of Chicago. In 1957 he defended his doctoral dissertation and became a professor.

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

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

The overarching idea of ​​the scientist’s works is that when making decisions in his daily life, a person is guided by economic reasoning, although he is not always aware of it. He argues that the market of ideas and motives functions according to the same laws as the market of goods: supply and demand, competition. This also applies to issues such as getting married, starting a family, studying, and choosing a profession. In his opinion, many psychological phenomena are also amenable to economic assessment and measurement, such as satisfaction and dissatisfaction with one’s financial situation, the manifestation of envy, altruism, selfishness, etc.

Opponents G.-S. Becker argues that by focusing on economic calculations, he downplays the importance of moral factors. However, the scientist has an answer to this: moral values ​​differ from person to person, and it will take a long time before they become the same, if such a thing is ever possible. A person of any morality and intellectual level strives to obtain personal economic benefit.

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

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

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

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

The scientist insists on the difference between special and general investments in humans (and more broadly, between general and specific resources in general). Special training gives the employee knowledge and skills that increase the future productivity of its recipient only in the company that trains him (various forms of rotation programs, familiarization of newcomers with the structure and internal routine of the enterprise). In the process of general training, the employee acquires knowledge and skills that increase the recipient's productivity, regardless of the company for which he works (personal computer training).

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

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

The term “special human capital” helped to understand why workers with a long tenure in one place are less likely to change jobs, and why vacancies are filled in firms primarily through internal career moves rather than through hiring on the external market.

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

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:

1. Individual human capital.
2. Human capital of the company.
3. 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 the 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 cost factor, from the point of view of 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 the globalization of the world economy, in the conditions of the 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, the accelerated development of high technologies.

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 by various methods - by investment, by the 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 twice as much 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. The Land of the Rising Sun, which has followed isolationist policies for centuries, has always had a high level 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 for the better the mentality of the population and improve 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 individuals incapable of learning and perceiving modern knowledge, which 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 government 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 fundamental research, applied research, R&D). 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 a positive direction are investments 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 are the factors that automatically generate innovation, demand for it, investment in an 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 innovative activity in Russia are the low quality of human capital and an unfavorable, depressing environment for innovation activity. 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

1. Konstantinov Ilya. Human capital and strategy of national projects
2. Nesterov L., Ashirova G. National wealth and human capital. // VE, 2003, No. 2.
3. Korchagin Yu. A. Broad concept of human capital. - Voronezh: TsIRE, 2009.
4. SHULGINA E. V. DEVELOPMENT OF HUMAN POTENTIAL. Moscow Business School, Moscow, Russia
5. Shultz T. Human Capital in the International Encyclopedia of the Social Sciences. - N.Y., 1968, vol. 6.
6. Becker, Gary S. Human Capital. - N.Y.: Columbia University Press, 1964.
7. Kendrick J. The total capital of the United States and its functioning. - M.: Progress, 1976
8. Korchagin Yu. A. Investment strategy. - Rostov-on-Don: Phoenix, 2006 ISBN 5-222-08440-X
9. Korchagin Yu. A. Russian human capital: a factor of development or degradation? - Voronezh: TsIRE, 2005.
10. Fischer S., Dornbusch R., Schmalenzi R. Economic theory. - M., Unity, 2002.
11. “The Economics of Resources and the Resources of Economics” (1974).

Human capital is a special economic category, the main problem of research of which is the specific nature of human capital, determined by the totality of a person’s physical and mental abilities that determine his ability to work.

The most common definition of the concept of human capital is:

Human capital is a set of knowledge, skills and abilities used to meet the diverse needs of an individual and society as a whole.

This approach reflects the main components of human capital, which are intelligence, health, knowledge, high-quality and productive work and quality of life.

It can be interpreted as special capital in the form of intellectual abilities and practical skills acquired in the process of education and practical activities of a person. This interpretation points to the fact that the presence of human capital means the ability of people to participate in production.

Specific features of the concept of human capital are presented in Figure 1.

Figure 1 – Concept of human capital

The ability of people to participate in production determines the interest in the concept of human capital on the part of enterprises, since the effective use of human capital ensures economic growth, i.e. an increase in the volume of created utilities, therefore, the level of economic activity of the enterprise increases.

The concept of human capital is defined within the framework of several concepts, including economic theory, personnel management, which in turn distinguishes between human resource management and human capital management. Thus, human capital manifests itself directly as capital and as a special resource. From the point of view of the essential content of the nature of human capital, this concept affects a wide range of categories of the science of people management.

The difference in terminology is due to the inclusion in the concepts of “people management” and “personnel management” of two interrelated concepts of human capital and human resources. The philosophy and applied aspects of personnel management are decisive for both human capital and human resources, while the managerial impact in the theory of people management is aimed at building systems for managing human resources and human capital.

The relationship between these aspects is presented in Figure 2.

Figure 2 – Relationship between aspects of people management

The theory of human capital was developed by economists, among whom the greatest contribution to the development was made by T. Schultz and his follower G. Becker. They laid the methodological foundations and basic elements of the theory of human capital.

The table shows several definitions of the concept of human capital by foreign authors.

The concept of human capital

		Definition of "human capital"
		All human resources and abilities are either innate or acquired. Each person is born with an individual set of genes that determines his innate human potential. We call the valuable qualities acquired by a person, which can be strengthened by appropriate investments, human capital. View all human abilities as either innate or acquired. Attributes that are valuable and can be developed with appropriate investments will be human capital.
		Human capital represents the human factor in an organization; it is the combined intelligence, skills and specialized knowledge that give the organization its distinctive character.
	Scarborough and Elias	The concept of human capital is most often viewed as a bridging concept, that is, the connection between human resource practices and the quality of a company's performance in terms of assets rather than business processes. Human capital is a non-standardized, tacit, dynamic, context-specific and unique resource embodied in people.
	Davenport	Human capital is the knowledge, skills and abilities of people who create value. People have innate abilities, behavior and personal energy, and these elements form human capital. The owners of human capital are workers, not their employers.
		Human capital creates the added value that people provide to an organization. Therefore, human capital is a condition for competitive advantage.

Schultz argued that “the well-being of men does not depend on land, technology, or their efforts, but rather on knowledge.” It was this qualitative aspect of the economy that he defined as “human capital.” Its foreign apologists adhered to a similar approach, gradually expanding the interpretation of human capital.

In general, human capital is the main factor in the formation and development of the innovative economy and the knowledge economy as the next stage of socio-economic development.

Human capital is the result of various types of human activity: education, upbringing, labor skills. The costs of acquiring knowledge are regarded as investments that form capital, which will subsequently bring regular profits to its owner in the form of higher earnings, prestigious and interesting work, increased social status, etc.

The role of human capital is manifested through social institutions, which makes it possible to analyze not only social parameters, but also to study the influence of social factors on a market economy.

Human capital theory

Human capital theory emphasizes the added value that people can create for an organization. She views people as a valuable asset and emphasizes that an organization's investment in people generates returns that are worth the cost. Sustainable competitive advantage can only be achieved when a firm has a stock of human resources that its competitors cannot imitate or duplicate by hiring workers with competitively valuable knowledge and skills, many of which are difficult to articulate.

For an employer, investing in personnel training and development is a means of attracting and retaining human capital, as well as a way to obtain higher returns from these investments. These gains are expected to result from improved performance, flexibility and the ability to innovate as a result of increased knowledge and competence. Thus, the theory of human capital allows us to objectively state the following:

Knowledge, skills and abilities are key factors determining the success of an individual company and the country's economy as a whole.

At the same time, there is a point of view that rejects the approach to human capital as a kind of asset, by analogy with financial and fixed capital. Michael Armstrong in his book "The Politics of Human Resource Management" pointed out the following aspect. “Employees, especially qualified ones, consider themselves independent agents who have the right to choose how to manage their talents, time and energy. In this regard, companies cannot manage, let alone own, human capital. However, companies have certain opportunities to effectively use human capital using organizational and economic methods."

The essence of the theory of human capital is that the main form of wealth is the knowledge materialized in a person and his ability to work effectively.

Human capital theory puts the following into this concept:

• a person’s acquired set of skills, abilities and possession of certain knowledge in various fields;
• income growth leads to a person’s interest in further investments in human capital;
• the feasibility of using human knowledge in various types of activities in order to increase labor productivity and production efficiency;
• the use of human capital leads to an increase in a person’s income due to his labor earnings in the future by abandoning some current needs;
• all abilities, knowledge, skills and abilities are an inseparable part of the person himself;
• a necessary condition for the formation, accumulation and use of human capital is human motivation.

The main tenet of the theory of human capital is the statement that the ability of an employee or group of employees to achieve better results leads to an increase in their wages. To accumulate and use human capital, expenditures are required on health care, education, vocational and technical training and other activities that help improve productivity and quality of labor.

G. Becker introduced the term “special human capital”. Special capital refers to only certain skills that a person can use in a specific activity. In particular, special capital includes all professional skills of a person. Thus, “special or specific human capital is knowledge, skills, abilities that can only be used in a specific workplace, only in a specific company.” This implies the need for special professional training, i.e. obtaining knowledge, acquiring skills and abilities that increase special human capital.

According to the theory of human capital, the process of its reproduction has three stages:

Stages of human capital reproduction

		Description
	Formation	At the first stage, a person receives an education. This is the basic stage for human capital, during which knowledge, skills and abilities are acquired. The future type of activity, place in society and level of income of a person will depend on this. Education is the main investment in human capital, since there is a high correlation between the cost of education received and the value of human capital.
	Accumulation	Further accumulation of human capital occurs in the process of work, enriching a person with professional skills and abilities that will help improve the efficiency of his work activity and increase income. At this stage, special human capital grows.
	Usage	The use of human capital is expressed through human participation in production, for which he receives compensation in the form of wages. At the same time, the size of human capital directly affects the level of income.

The theory of human capital indicates that this process is continuous and with the reward received a person can make additional investments in his capital through further professional training, improving his qualifications, etc. This will increase the level of income, which is the main incentive for the constant increase in human capital.

The structure of human capital depends on the nature of a person’s activity, his specialization, including industry, the dynamics of labor income, etc. It should be noted that the structure of human capital of a particular person may undergo changes over time. This happens depending on the actions a person takes, expanding his knowledge and skills, or, conversely, specializing in one area.

The value of human capital is defined as the present value of all future labor earnings of a person, including income that will be paid by pension funds. “The value of human capital is influenced by the age (work horizon) of a person, his income, possible variability of income, taxes, the rate of indexation of wages for inflation, the size of upcoming pension payments, as well as the discount rate of income, which is partly determined by the type of human capital (or rather, related with him risks)".

Thus, in the theory of human capital, this concept acts as a product of production, represents knowledge, skills, abilities that a person acquires in the process of training and work, and like any other type of capital, has the ability to accumulate.

As a rule, the process of accumulation of human capital is longer than the process of accumulation of physical capital. These are processes: training at school, university, at work, advanced training, self-education, that is, continuous processes. If the accumulation of physical capital lasts, as a rule, 1–5 years, then the process of accumulation into human capital lasts 12–20 years.

The accumulation of scientific and educational potential, which underlies human capital, has significant differences from the accumulation of material resources. At the initial stage, human capital, due to the gradual accumulation of production experience, has a low value, which does not decrease, but accumulates (unlike physical capital). The process of increasing the value of intellectual capital is the opposite of the process of depreciating physical capital.

Human capital concept

Considering the nature of the economic activities of modern companies, it can be noted that for them human capital is of particular importance, since it is through its use that companies can carry out innovative activities, in whatever form. Production, commercial, management and general economic projects lead to the creation and implementation of organizational and economic advantages that the company already has.

It is based on the position that human capital is a fundamentally significant asset for enterprises, since the development and implementation of innovations without its presence is not possible in modern socio-economic conditions. Taken together, human capital seems to be a key asset of an organization, without which it cannot exist in the conditions of modern development of the national economic system.

Thus, according to the concept of human capital, for a modern company this asset is of particular importance, since it allows one to effectively implement innovations in practice, introduce them into production, commercial, and management activities, as well as create organizational and economic advantages.

Human capital reflects the potential available to ensure growth in the intensity, efficiency and rationalization of human professional activity. The presence of human capital presupposes the ability of people to participate in production.

Human capital concept considers this phenomenon as a special economic category, which is a set of intellectual abilities, acquired knowledge, professional skills, abilities that a person receives as a result of training, experience and practical activity.

At the same time, human capital, being a factor in the development of a person’s existing potential, leads to a direct and indirect increase in labor productivity at existing enterprises, as well as an increase in the efficiency of their activities through the use of existing human capital. In fact, human capital is a priority factor in the innovative type of economic development, since enterprises are able to achieve great success in their economic activities, developing it through the use of human capital.

In the holistic concept of human capital, approaches to its assessment are based on various organizational and managerial models that use qualitative and quantitative parameters for assessment. At the same time, the capabilities of an enterprise assessing human capital are usually limited by its ability to create an assessment system that would make it possible to objectively determine the available human capital; in addition, assessment needs may differ among different enterprises. It should be noted that the most formalized approaches are those based on quantitative parameters and cost indicators for assessing human capital, while purely management models do not allow an enterprise to evaluate it accurately enough, since they operate only with qualitative or natural characteristics. Hence, human capital concept operates with the qualitative and quantitative characteristics of a given asset.

Factors of human capital development

Human capital development factors include the following combinations of individual and production activities:

1. The combination of natural abilities and physical energy acquired as a result of training and life with their demand in production with subsequent optimal costs.
2. The combination of knowledge and experience used by man in the field of social reproduction with increased labor productivity and increased production efficiency.
3. The stock of knowledge, abilities and skills accumulates in the process of an appropriate combination of production activities and appropriate motivation of the employee.
4. An increase in individual income is combined with the reproduction of human capital in a broad sense (additional education and professional retraining are reinvested in production activities).

A circular process occurs: human capital itself contributes to production efficiency, efficient production invests in the development of human capital. Consequently, the factors of human capital development and their actual influence on the development of capital have the nature of a cyclically repeating process. This process is endless, since the desire to increase individual and national wealth has no upper limit.

Factors in the development of human capital determine the algorithm on which the development of human capital is based; this algorithm is shown in Figure 3.

Figure 3 – Development of human capital

The process of human capital development is organizationally complex in nature. Renewal of human capital is accompanied by the development of the individual's capabilities and abilities with their subsequent implementation. Therefore, the motives influencing this process can be both material and spiritual.

It can be rightly stated that the main motives for the development of human capital are the following:

• physiological motives,
• security motives,
• social motives,
• motives of respect,
• motives of self-esteem.

Due to the increase in individual incomes of the owners of human capital, economic growth of the country's economy occurs - this is how one can characterize the influence of human capital on economic growth.

The individual skills and experience that an individual is endowed with can lead him to make informed human rights decisions - such is the impact of security needs on human capital development. Reasonable rational decisions of the majority of people create an atmosphere of safety in society.

By increasing individual labor productivity, a person is able to perform work that has great social value - this is how social motives influence the development of human capital.

New ideas and scientific developments introduced into practice increase respect for the people who proposed and implemented them - such is the influence of the motive of respect on the development of human capital.

The development of intelligence and the generation of new technical and technological ideas lead a person to self-esteem.

The role of human capital for economic growth and enterprise development

The value of capital invested in material resources is reduced. The efficiency of agriculture and the food industry is less and less determined by material assets: the size of land ownership, industrial buildings, machinery, equipment; To a greater extent, the value of enterprises is formed by “intangible resources” - ideas, entrepreneurship and creativity of staff, strategic and intellectual association of partners, etc. The main thing that resources are spent on is generating ideas, searching for information, processing it, and quickly applying it in practice to produce products and make profits.

Indeed, in order to realize the desire to accelerate economic growth, eliminate poverty and move to an innovative type of development, it is necessary today to begin creating a system that would stimulate investment in human capital. The accumulation of human capital and its subsequent use will make it possible to solve the problems of economic growth at the level of the national economic system.

Among the features of accumulation and financial injections into human capital in Russia, it is necessary to note the positive trends towards an increase in the number of workers increasing their human capital through advanced training and the acquisition of new professional skills. This is definitely a plus. At the same time, the general low culture among workers and employers regarding the refinancing of human capital is a limiting condition for intensive economic growth. In modern conditions, human capital in Russia is the main factor in intensifying economic growth.

Human capital, which itself is a factor in the development of enterprises (Figure 4), can act as an integrative basis for the growth of enterprises in modern conditions.

Figure 4 – Human capital as a factor in the growth and development of enterprises

Thus, a system of interconnected elements can be traced: the development of the economy and social factors in society makes it possible to “involve” factors in the development of human capital, leading to an increase in labor productivity in enterprises, an increase in the efficiency of enterprises through the introduction of new technologies and investment in personnel. Consequently, the importance of human capital for an enterprise is manifested in its ability to ensure economic development. An economic entity achieves success by developing its production and commercial activities taking into account human capital.

Among the typical problems associated with the use of human capital in enterprises are the following:

Firstly, the low level of development of the human capital assessment system, which is often limited to the traditional approach.

Secondly, the low degree of use of the enterprise’s human capital leads to a decrease in the efficiency and productivity of labor and the use of working time.

Thirdly, there is often an insufficiently thought-out policy for the use of labor resources and human capital in general, or this policy is absent altogether.

Consequently, in modern conditions it is necessary to implement measures at enterprises aimed at eliminating typical problems and shortcomings and forming objective approaches to the system of assessment, development and use of human capital.

conclusions

Human capital is a combination of the following factors:

1. qualities that a person brings to his work: intelligence, energy, positivity, reliability, dedication;
2. a person’s ability to learn: talent, imagination, creative personality, ingenuity (“how to do things”);
3. encouraging a person to share information and knowledge: team spirit and goal orientation.

Despite the fact that knowledge has always been one of the most important conditions for the development of production, the uniqueness of the modern stage lies precisely in the accumulation by humanity of knowledge in such quantities that it has transformed into a new quality, becoming the main factor of production.

Literature

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5. Alaverdov A.A. Organizational human resource management. – M.: Synergy, 2012.
6. Bazarov T.Yu. Personnel Management. – M.: Yurayt, 2014.
7. Vesnin V.R. Human resource management. – M.: Prospekt, 2014.
8. Golovanova E.N. Investments in the human capital of the enterprise. – M.: Infra-M, 2011.
9. Gruzkov I.V. Reproduction of human capital in the conditions of formation of the innovative economy of Russia. Theory, methodology, management. – M.: Economics, 2013.
10. Mau V.A. Development of human capital. – M.: Delo, 2013.
11. Hugheslid M. How to manage human capital to implement a strategy. – St. Petersburg: Peter, 2012.

Human capital- assessment of the potential ability embodied in the individual to bring income. Includes innate abilities and talents, as well as education and acquired qualifications. The concept of human capital was developed by American scientists, Nobel Prize winners in economics Gary Becker And Theodore Schultz. They showed that investments in human capital can yield high economic effect and that in recent decades they have increasingly determined the development of the economy, especially in industrial countries.

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.

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 spending on food, clothing, housing, education, health care, culture, as well as government spending for these purposes.

Human capital in a broad sense, it is an intensive productive factor of economic development, 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 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- the main factor in the formation and development of the innovative economy and the knowledge economy as the next highest stage of development.

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

Use the classification of human capital:

1. Individual human capital.

2. Human capital of the company.

3. National human capital.

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

The concept of human capital is a natural development and generalization of the concepts of human factor and human resource, but human capital is a broader economic category. The founders of the theory of human capital (HC) gave it a narrow definition, which has expanded over time and continues to expand, including all new components of HC. As a result, 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 the globalization of the world economy, in the conditions of the 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, the accelerated development of high technologies.

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, broadly defined, is intensive productiveeconomic development factor, society and family, including the educated part of the labor force, knowledge, tools of intellectual and managerial work, living and working environment, ensuring the effective and rational functioning of the human capital as a productive factor of development.

Human capital is being formed through investments in improving the level and quality of life of the population, in intellectual activity. Including - in upbringing, education, health, knowledge (science), entrepreneurial ability and climate, in 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.

IN composition of human capital 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.

The theory of human capital began to be studied back in the 19th century. Then this became one of the promising directions for the development of economic science. 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, from the point of view of economic theory, a cost factor. It was believed that investments in upbringing and education are costly. Already from the second half of the twentieth century. the attitude towards human capital and education has gradually and dramatically changed, and this economic category has become the main achievement, first of all, of the economics of education and labor. 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 spending on food, clothing, housing, education, health care, culture, as well as government spending for these purposes.

The term “human capital” first appeared in the works of American economists Theodore Schultz and Gary Becker.

G. Becker considered human capital as a set of skills, knowledge and abilities of a person, and according to T. Schultz’s definition, human capital is valuable qualities acquired by a person that can be strengthened by appropriate investments. However, T. Schultz and G. Becker paid more attention to explaining and defending the idea of ​​the role of human capital equal to material resources in the creation of the total social product.

For creating the “foundations of the theory of human capital,” American scientists were awarded the Nobel Prize in Economics - Theodore Schultz in 1979, Gary Becker in 1992. The founders of the theory of human capital gave it a narrow definition, which expanded over time and continues to expand, including everything new components of human capital.

In more recent works, there is no consensus among scientists on the definition and content of “human capital,” which can be explained by the complexity and versatility of this phenomenon. That is why there are a large number of definitions of this concept:

• - according to W. Bowen, human capital consists of acquired knowledge, skills, motivation and energy that a person is endowed with and which can be used over a certain period of time to produce goods and services;
• - according to Edwin J. Dolan, human capital is capital in the form of mental abilities obtained through training or education or through practical experience;
• - according to M.M. Cretan human capital is a general specific form of life activity that assimilates previous forms and is realized as a result of the historical movement of human society to its modern state;
• - B.M Genkin and B.G. Yudin believe that human capital characterizes the components of human potential that can become a source of income for a household, enterprise and country. Such components can be a person’s physical and creative abilities, his knowledge, skills, activity;
• - according to A.I. Dobrynina, S.A. Dyatlova, E.D. Tsyrenova, human capital is a stock of health, knowledge, skills, abilities, motivations formed as a result of investments and accumulated by a person, which are expediently used in one or another sphere of social reproduction, contribute to the growth of labor productivity and production, thereby influencing the growth of income of a given person ;
• - V.S. Efimov considers human capital as a universal, independent component of the “production process”, providing additional value to the product. He also identifies three aspects of human capital:
  • a) biological aspect - preservation of human capital: demography + health + activity;
  • b) social aspect - development of human capital: education + qualifications + social organization + initiative;
  • c) economic aspect - capitalization of human capital: production systems + social institutions + infrastructure of opportunities.

Summarizing the above definitions of human capital, we can distinguish several main approaches: most scientists understand human capital as a set of skills, abilities and abilities of a person, others - only those that were acquired through training, others define it through investments and investments in a person that provide savings certain abilities and qualities. Some researchers also include social, psychological, ideological, and cultural characteristics of people.

The concept of human capital itself was introduced to explain why education and experience affect pay, and to understand what determines the level of education people receive.

Since every person, one way or another, in his life is faced with such concepts as the need to obtain an education, lack of experience when applying for a job, the level of wages, then everyone is able to subjectively define the concept of human capital.

Often there is a definition of human capital as creative potential, physical, moral, psychological and social health, spiritual qualities, and the ability for human mobility. In addition, human capital implies an accumulated stock of health, knowledge, abilities, culture, experience, expediently used for productive activities to create products and services, which increases the income of a person, enterprise, and society.

To more fully define human capital, the following features should be taken into account:

• - nowadays human capital is the main value of society and the main factor of economic growth;
• - the formation of human capital requires large expenditures both from society and from the individual himself;
• - human capital can be accumulated (in terms of knowledge, skills, abilities, experience);
• - human capital can physically wear out, economically change its value and depreciate;
• - investments in human capital will bring its owner higher income in the future;
• - human capital is inseparable from its carrier - man;
• - despite what sources form human capital (state, family, honest), the receipt of income and the use of human capital is controlled by the person;
• - the functioning of human capital is determined by the free will of a person, depending on his preferences, worldview and culture.

As a result, we can say that human capital is everything that concerns people, their intelligence, knowledge and experience, and includes other qualities such as loyalty, motivation and the ability to work in a team. Despite the wide range of definitions of the concept of human capital, its essence is clear: human capital is defined as a measure of the ability to generate income embodied in a person, which includes innate abilities and talent, as well as education and acquired qualifications.

In the economic literature, there are several approaches to classifying types of human capital. Economists classify types of human capital by elements of costs and investments in human capital.

From the point of view of the nature of promoting the economic well-being of society, there are:

• - Consumer capital - creates a flow of services consumed directly. This can be a creative and educational activity. The result of such activity is expressed in the provision to the consumer of such consumer services that lead to the emergence of new ways to satisfy needs or increase the efficiency of existing ways to satisfy them;
• - 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 practical application specifically in production (the creation of means of production, technologies, production services and products).

The next criterion for classifying types of human capital is the difference between the forms in which it is embodied:

• - Living capital - includes knowledge embodied in a person;
• - Non-living capital - is created when knowledge is embodied in physical, material forms;
• - Institutional capital - consists of living and non-living capital associated with the production of services that satisfy the collective needs of society. It includes all governmental and non-governmental institutions that promote the efficient use of the two types of capital (educational and financial institutions).

Based on the form of on-the-job training for employees, we can distinguish:

• - special human capital;
• - total human capital.

Specialized human capital includes skills and knowledge acquired as a result of special training and are of interest only to the company where they were acquired.

Unlike special human capital, general human capital represents knowledge that can be in demand in various areas of human activity.

As a productive factor, human capital can be divided according to the degree of efficiency into negative (destructive) human capital and positive (creative) human capital.

Negative human capital is a part of accumulated human capital that 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 human capital. Corrupt officials, criminals, drug addicts, excessive drinkers and simply slackers are lost investments in them for society and the family. 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 or even regression.

Negative human capital requires additional investment to compensate for negative capital accumulated in the past.

Positive human capital (creative) is defined as accumulated human capital that provides a useful return on investment in it in the processes of development and growth. In particular, in the development of the education system, the growth of knowledge, the development of science, the improvement of public health, and the improvement of the quality and availability of information.

Thus, with the existence of a large number of definitions and types of human capital, this concept, like many terms, is “a metaphor that transfers the properties of one phenomenon to another according to a common characteristic for them.”