Abstract

The purpose of this article is to study the concept of human capital, its impact on economic growth, as well as to identify its constituent elements. In the first part of the study, the author examines various approaches to understanding human capital and the peculiarities of the interpretation of the definition of human capital. In the study, the author highlighted that the formation of human capital occurs due to skills and abilities to work. It follows that to increase labor productivity, human capital development is necessary. A person’s interest in developing skills and abilities stimulates him to make additional investments in education, health and the development of spiritual and moral values, which, of course, leads to the evolution of human capital. In the second part of the study, the author examined the elements of human capital in more detail, and also provided arguments for the validity of these elements.

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