Development of Human Capital as a Factor of Socio-Economic Development

Abstract

Annotation: For a long time, economic thought as a whole was influenced by the processes taking place in the field of material accumulation. But it was the factor analysis of the sources of growth in material wealth that led scientists to a completely new vision of the role and importance of man in the economy. Since the 1990s, a new development paradigm based on the theories of sustainable development and human development has been actively discussed. Both of these theories were developed within the framework of the UN structures, which gave them an international status. Man possessing!! a certain stock of knowledge, skills and abilities of a general and professional nature becomes a leading factor in the development and stability of the economy. According to World Bank estimates, physical capital in the modern economy forms 16% of the total wealth of the country, natural - 20%, and human capital - 64%. This report focuses on developed countries.