RETROSPECTIVE OF THE DEFINITION OF THE ESSENCE OF HUMAN CAPITAL AND ITS CONTENT

Abstract

Purpose. The aim of the article is substantiation of the concept of human capital development in economic thought in view of various directions and theories to ensure economic relations and the evolution of human capital, clarification of the essence and content at the present stage of economic development. Methodology of research. The methods generally accepted in economics were used in the course of writing the article: theoretical and comparative analysis – to reveal the essence and significance of human capital; analysis and synthesis, system and structural, abstract and logical, grouping method – to group the functions of human capital and determine its content. Findings. The concepts and basic theoretical approaches to determining the essence of human capital in the economic system of society are studied. The need to invest in person through investments, by limiting consumption, which over time will bring economic effect, was determined. The main sources of human capital investment, levels of perception and accumulation of capital among people of working age are identified. The main functions of human capital are systematized. The peculiarities of human capital wear and tear in the process of development are determined and outlined. Originality. The study of the essence of human capital and the need to invest in its accumulation has been further developed, which allows to obtain an integrated economic and social effect, which benefits not only a particular person but also the company where he works and society as a whole. Practical value. The conducted results of the study can be used in the development of social and economic development programs at the regional, local and national levels, taking into account the peculiarities of accumulation and development of human capital in the territorial units of Ukraine. Key words: capital, person, development, investments, theory, efficiency, evolution.