The concept of lifelong education in the context of investments in human capital

Abstract

The concept of the lifelong education is a prevalent object of study in Russia and abroad. This article proposes to shift the focus to investment in human capital as one of the most important aspects of lifelong education. It covers the stages of formation and development of the lifelong education concept, systematization of normative acts, clarification of the most controversial related terms, such as formal, non-formal and informal education, human capital. Taking into consideration different theoretical approaches to human capital, we emphasize its non-material spiritual component. Investments in education and, accordingly, to human capital have their own, only their inherent features, including a cumulative effect, long-term period, delayed bonuses, and so on. In addition, investor and the object of investment can be combined in one person. Individual as a beneficiary has his/her own interests, but since he/she lives in society, the gains received by him become part of the total human capital of the society and state. It is noted that investments in one person, his/her education and development may continue to generate bonuses for future generations. The present article uses the data provided by the Education and Training Monitor 2020, which collects a wide range of evidence to analyze the evolution of national education and training systems across the European Union. The article considers the experience of the EU countries in pursuing a unified educational policy and implementing the concept of lifelong education, including transnational programs. It may be of interest for similar studies in Russia.