THE RELATIONSHIP BETWEEN WAGES AND HUMAN CAPITAL IN THE RUSSIAN ECONOMY: THE BASIC THEORETICAL PRINCIPLES AND FACTS

Abstract

The article is devoted to the study of the mutual relationship between wages and human capital development in the modern Russian economy from the perspective of normative theory and positive practice. In particular, the article describes the main theoretical provisions of the human capital theory. In the course of the regulatory analysis, it was revealed that the development of human capital implies an increase in the wage of an employee in accordance with the growth of his qualification. However, the current practice of wage organization in the Russian economy refutes this normative provision. Based on the analysis of statistical data, it was found that the basis of the current differentiation in wages is not the level of the employee qualification, but the market situation in the development of the industry, the lack of workers in certain professions and specialties. The solution of the problem between the normative provisions of the human capital theory and the real practice of wage organization is seen, first, in the need for a critical rethinking of the neoclassical provisions of the human capital theory. Secondly, an important direction is the creation of a “road map”, which would be linked into a single whole scientific, educational, managerial, financial and other decisions relating to the wages growth of highly qualified persons.