THE DIFFERENT APPROACHES OF HUMAN CAPITAL FORMATION
Journal Title: International Journal of Innovative Technologies in Economy - Year 2017, Vol 1, Issue 5
Abstract
This article describes the results of the research was focused on monitoring expert opinions on the formation of human capital and its approaches. The result of research is proposal for the structure of theoretical approaches towards understanding the nature of human capital and its place in science. The article specifically emphasizes the approaches of human capital in production functions and for the achievement of economic growth, too. In terms of business economics is human capital considered as production factor. According to the managerial view human capital is a business resource or asset which forms part of the market value of the company. Quantitative and qualitative assessments of human productive capabilities and their role in economic development have been identified by England classic scientists of political economy. In this article will be considered the ideas of 19th century famous economists and given conceptions which formed in the beginning of 20th century. Exactly in this period has been formed the conception of human capital in the west economic sciences and highlights the ideas of neoclassical scientists of USA, especially the ideas of scientists of the “school of Chicago” T. Shultz and G. Bakker. The objective and subjective conditions of human capital theory formation will be disclosed.
Authors and Affiliations
B. N. Navruz-Zoda, G. U. Shomiev
Keywords
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