Abstract
This article describes the results of a study based on the views of monitoring experts on human capital formation and approaches. The result of the study is a proposal for the structure of theoretical approaches to understand the nature of human capital and its place in science. From the point of view of business economics, it is human capital that is considered as a factor of production. From a management perspective, human capital is a business resource or asset that forms part of a company's market value. The quantitative and qualitative assessment of man's productive abilities and their role in economic development was defined by the classical political economists of England. In the article, the ideas of the famous economists of the 19th century will be discussed and the concepts of the beginning of the 20th century will be given. In this period, the concept of human capital took shape in the Western economy and brought the ideas of neoclassical scientists from the USA to the fore. The objective and subjective conditions of the formation of human capital theory will be explained.
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