THE DIFFERENT APPROACHES OF HUMAN CAPITAL FORMATION (original) (raw)
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Scientific Approaches to the Understanding of Human Capital Concept
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The article systematizes scientific approaches to understanding the nature of the category "human capital". The historical periodization of the concept development is offered. A review of classical and modern approaches to the interpretation of the essence, forms of manifestation, and derivatives of human capital. The study forms the methodological basis for the study of human capital in modern conditions of economic development, taking into account modern concepts and paradoxes of economic development.
The Necessity of the Development of the Human Capital Concept
Annals of Philosophy, Social and Human Disciplines, 2012
Human Capital is considered an investment, but of a special and qualitative kind. We emphasize that there are levels of defining the concept: investments in health, education, training and specializing, and the upper level, the stock of skills, talent, knowledge, embodied in the human personality as a participant to the economic, social, cultural, activities; micro and macro approaches. In this period, we can speak about a global overview regarding the two or more levels of human capital. This is mostly pointed when discussing the educational and the health capital and, on the other hand, the biological capital. We have to understand the concept in the inter-relation between the two levels and with the business and natural environments. Important is the causal chain in the construction of Human Capital: investments in health care and education → the impulse to ensure the formation and the modeling of the capabilities, skills and other specific biological stocks → the effective actio...
Human Capital and Its Influence on Economic Development
Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie, 2015
The present paper had as starting point the idea according to which human capital and investment in human capital, and respectively investment in education, can be considered key determinant of economic growth and development. Our paper draws attention to the conditions necessary so that the effects of education on human capital development and economic development should record maximum values. The paper emphasizes the idea that investments in education become ineffective unless accompanied by a suitable and appropriate strategy for economic and social development, based on socioeconomic and political stability, and by the existence of a direct relationship between income, occupation and level of education and professional training. Our analysis also involves the concepts of social capital and psychological capital, both being considered as influencing development theory, practice and policy; although they bring about less clear and direct results, these two forms of capital are considered to improve the economic activity background in a way similar to technical infrastructure; social capital influences the quality of education and health, facilitates access of individuals to markets, supports complex operations and enables the activities' long-term planning. The paper draws attention to the multidimensional character of the economic development, considering that economic development can therefore express all quantitative, qualitative and structural transformations occurring both within economic processes and along scientific research and manufacturing technologies, in the mechanisms regarding the operation of the economy, namely thinking patterns and the behavior of individuals. On the other hand, the New Economy is described synonymous with a knowledge economy in the broader context of the knowledge society-considering the knowledge based economy, knowledge representing an important factor in determining economic growth.
Human Capital Investigation and Identification Its Key Criteria of the Article
Humanities and Social Sciences quarterly, 2016
In the knowledge-based economy the crucial elements are people, holders of valuable human capital, the key corporate asset and driving force of progress and innovation. With the growth of importance of knowledge and quality requirements the demands on the knowledge, skills and abilities of the workforce are increasing, competition in the labour market is growing and the ways and methods of working with people have lost their functionality. Experts believe that the knowledge economy is in the third stage of the human civilization development. Its onset and gradual formation of accompanying material changes after the agrarian and industrial revolution. Human society is facing many serious changes in their understanding of previously unknown phenomena and learns the appropriate action. Globalization, rapid technological progress, expansion of information and communication technologies, a constant change, the need for lifelong learning and other features of this new economic environment were crucial to change perhaps all areas of human activity.
The Concept of Human Capital – the Need for an Interdisciplinary Synthesis
Journal of Siberian Federal University. Humanities & Social Sciences
The article presents a review of theoretical and empirical studies of human capital, which has showed inadequacy of reduced representations about man, his activity and the possibility to implement it. Based on the performed critical analysis, the article substantiates the necessity to develop a systemic model of human capital, which is to unite the classical concepts of human capital and its components (education and competencies, health, demographic potential) with advanced concepts, including personal qualities of a person, activity, identity; the features of not only individuals but also collectives and groups; the concept of social capital; representations about the conditions, media and institutions that provide human development and capitalization; ideas about subjects of human capitalization; representations of the negative processes leading to 'dissipation' of human resources. Two groups of categories are offered on the basis of the philosophical and methodological analysis. They are material-processes-conditions and subjects-interests/positions-activity, allowing us to carry out the system assembly of the ideas about human capital. With respect to the applied empirical research, the article discusses the most important focus of human capital studies; significant components (characteristics) of human capital; the methods of research (fixation, evaluation) of the most important characteristics of human capital.
Human capital in human economics
2013
Human capital is a microeconomic term referring by definition to the knowledge and skills accumulated by people in the process of their education and training. The pioneer in the field who published 'Human capital' in is professor Gary S. Becker, a Nobel Laureate () from the University of Chicago (Becker ). In his opinion, the new economy has increased the value of education and returns for investment on education. The macroeconomic aspect of education and investment in human capital contribute to economic growth. Economically we can measure human capital as 'stock' or 'flow' type of indicator, where the first one represents the level of education and knowledge of people and the second reflects the process of education. Highly educated and skilled people have an economic advantage on the labour market earning more, which is a return on their investment in education. The income level is a function of education and experience, highly educated people have a higher price of their skills, thus earning higher income while entering the labour market and experience a more rapid growth during the working life cycle (Samuelson ). In the macroeconomic theory, human capital is among the four factors of economic development in addition to the natural resources, capital formation and technology. Human capital has become the most important among the factors, as the capital goods can be bought, but can be effectively used in the economic process only by well-educated and skilled workers. The neoclassical model of economic growth is based only on capital accumulation, while other factors such as the quality of labour force, technology and natural resources remain constant. The increase of capital per employee will increase aggregate output per worker and the econ- brought to you by CORE View metadata, citation and similar papers at core.ac.uk
Human Capital or Man-Capital Theory
2018
Common denominator used usually on the social life, legitimator of the economic, cultural and entrepreneurial activities. The concept of "human capital" conquered the planet. It roams indefatigably on all the waves and on all the feathers. Let us override the disillusioned interpretations which see only a latest fad there and let us wonder rather about what make its strength. If we can make the observation that it seems difficult to translate the conceptual contributions of human capital into real activities within the company, then in collective and individual acts, we can make on the contrary the report that is even more difficult to translate this economic theory into words. In spite of the abundant literature with concerns the human capital theory, we find until then no definition which makes the unanimity of all the authors. So what do we know about this concept? Is it suited to stimulate Man in a capital? This is what we try to land on this article.
It is the 21st century; every state desires to develop itself more rapidly. After the Second World War in 1945, industrial, individual, and communication revolutions transformed the world into a global village. The internet, cyber space, and e-mail have compressed the world into a smaller region. Every sane individual can easily have an access to all types of changes occurring in the world. Thanks to the communication revolution, nothing is hidden from the eyes of human beings. In this regard, every state in the world is looking for its specific role in the world. In this regard, every state in the is looking for its specific role in the world. The economy is not only the sole source of development in a state but these are the men behind all types of amelioration. The knowledge, skills and hardworking of the individuals sustain the economy of a state. Traditionally only the land labour and physical resources were considered important means of production. Undoubtedly, man and material resources are unavoidably necessary for the economic growth of a country. In this century, without manpower all other resources are futile. This paper is based on the thesis that human capital consists of manpower, skill, and knowledge, is sine qua non for economic growth. The economics of education is the perfect investment is the major theme of this paper.
Significance of Human Capital for Economic Growth HSVol 7 (2) Article 1
It is the 21st century; every state desires to develop itself more rapidly. After the Second World War in 1945, industrial, individual, and communication revolutions transformed the world into a global village. The internet, cyber space, and e-mail have compressed the world into a smaller region. Every sane individual can easily have an access to all types of changes occurring in the world. Thanks to the communication revolution, nothing is hidden from the eyes of human beings. In this regard, every state in the world is looking for its specific role in the world. In this regard, every state in the is looking for its specific role in the world. The economy is not only the sole source of development in a state but these are the men behind all types of amelioration. The knowledge, skills and hardworking of the individuals sustain the economy of a state. Traditionally only the land labour and physical resources were considered important means of production. Undoubtedly, man and material resources are unavoidably necessary for the economic growth of a country. In this century, without manpower all other resources are futile. This paper is based on the thesis that human capital consists of manpower, skill, and knowledge, is sine qua non for economic growth. The economics of education is the perfect investment is the major theme of this paper.