INTRODUCTION
The theory of human capital has accumulated sufficient scientific tools for a clear definition of the essence, content, types, methods of assessing and regulating this active part of the capital of any enterprise. Human capital issues are widely discussed in scientific, applied and educational literature. Human capital as an economic category has become one of the general economic core concepts that allow describing and explaining many economic processes through the prism of human interests and actions. The composition of productive forces and capital, education and income distribution, economic growth and national wealth are adequately reflected in economic science using the category of "human capital".
The discoverers of human capital as an integral concept, T. Schultz and G. Becker, focused on investment in human capital and assessing their effectiveness. This is understandable, since the investment of funds just transforms the resource into capital, makes a simple good a capital good. Investments in increasing human abilities lead to an increase in labor productivity, to an increase in income, incl. to the growth of the employee's earnings. This means that there is a reproduction and cumulative accumulation of income with the help of human abilities, which turns them into a special form of capital. In the new economic paradigm, the analysis of socio-economic development focuses on the ability of the economy to make effective, qualitative and structural changes, which directly depends on the individual.
Human capabilities in any systems are decisive in achieving the set goals. However, the study of man as a living bearer of knowledge, creative abilities and forces, with the help of which he changes the environment, not only was, but is and will be relevant in world scientific thought.
The purpose of this course work is to analyze the evolution of approaches and methods of assessing human capital in the Republic of Belarus.
The following tasks follow from this goal:
to highlight the essence and role of human capital in the modern economy;
to characterize the process of formation and accumulation of human capital;
analyze the features of the implementation of human capital in Belarus.
The subject of the course work is the specifics of the development of human capital in the context of Belarus's transition to a socially oriented market economy. The object of the course work is human capital as an economic category.
Coursework methods: analytical, graphic, deductive, inductive, synthetic, comparative, tabular.
1. The essence and role of human capital in the modern economy
William Petty is usually credited with the honor of one of the first economists who emphasized the important role of man and his abilities in the national wealth of the country. The population of the country with acquired knowledge and abilities is not only the main source of income for the state, but also requires certain expenses. In order to determine the expediency of spending money from the state treasury, in his work "Treatise on taxes and fees" W. Petty tried to calculate the required number of people of different professions, such as: doctors, lawyers, priests, etc. defining the main institutions that influence the formation of the necessary human capital for the country.
The idea of the most effective use of human knowledge and skills was further developed in the works of the most famous representative of the classical school - Adam Smith. The abilities of a person, he believed, are part of the fixed total capital and their acquisition is associated with some costs, but subsequently these costs will be compensated, since the acquired abilities will be used to generate income.
Karl Marx's approach to assessing human abilities, on the one hand, is similar to that of A. Smith (the productive abilities of people are the main real wealth of society). On the other hand, Karl Marx's approach is specific from the standpoint of characterizing the position of who holds the labor power: labor in the hands of the worker is a commodity, as capital it functions after the sale, in the hands of the capitalist, during the production process itself. Karl Marx's views on the nature of human productive forces were determined by a specific historical situation (the crisis of early capitalism) and a class approach to analysis.
The name of A. Marshall is usually the last in the list of economists who contributed to the development of the idea of studying the productive abilities of a person, before formalizing the theory in its modern form. It is believed that in his work entitled "Principles of Economic Science" he assessed research in this direction as unpromising: "... although Marshall knew about the theory of human capital and briefly described its qualities, he recognized it as unrealistic." The fact is that Marshall's authority among economists was quite significant, and after his position became known "... the interest of the bourgeois economists of that time in the category of" human agents of production "almost disappeared and the studies that had been widely developed before this began to decline" ... The well-known researcher of the history of the development of economic thought M. Blaug writes that Marshall “killed that interest in this problem, which was steadily developing beyond the mainstream of orthodox economics. He dismissed the idea of human capital as unrealistic, and it is believed that his judicial authority is responsible for the withering of this idea. " Be that as it may, but after the publication of this work by A. Marshall, interest in the study of human capital has significantly decreased, and practically no significant research has been carried out since then.
In the 30s and 40s of the XX century, during the period of prosperity of Keynesian theory, only Harvard University employee J. Walsh in 1935 in his article "Application of the concept of capital to a person" conducted a study on whether education and professional skills are person's capital, and if so, does it make a profit? Calculations based on statistical data on education expenditures and future incomes, depending on its level, concluded that “investing in professional skills and material capital is the same. Within this range, the concept of capital can be applied to a person. "
In its modern form, the theory of human capital was formed in the late 50s and early 60s of the XX century. The role of the "discoverer" of this theory in its modern form belongs to T. Schultz, who in 1960 published an article "Formation of the capital of education", where the main provisions of the theory of human capital were formulated. Almost at the same time, H. Becker was developing the foundations of the theory of human capital. In 1962, his article "Investments in Human Capital" was published, and in 1964, a fundamental work entitled "Human Capital: A Theoretical and Empirical Analysis" was published. In 1992, G. Becker was awarded the Nobel Prize in Economics for "extending the field of microeconomic analysis to a wide range of aspects of human behavior and interaction, including non-market behavior." It is in its modern sounding that the theory of human capital interprets human abilities as capital, applying neoclassical analysis not only to the economic, but also to the social aspects of human activity.
The emergence of the theory of human capital as an independent current of world economic thought in the early 60s of the XX century, increasing attention at the present time.
Researchers who began to develop the theory of human capital in its modern form: T. Schultz, G. Becker, J. Mintser, B. Weisbrod, L. Thurow, W. Bowen, M. Fisher, J. Weisl.
Assessment of human behavior from a unified standpoint of the economic approach to human behavior made it possible to define human capital as "... a measure of the abilities and qualities formed as a result of investments and accumulated by a person, which, if used appropriately, lead to an increase in labor productivity and income." The human model used allows the classics to interpret human behavior in relation to their own abilities, knowledge and skills as rational, i.e. throughout life, a person strives to increase the level of income, which is achieved through investments in education, health care, training in production, migration, information retrieval, the birth and upbringing of children.
Within the framework of the theory, it is recognized that the formation of human capital is similar to the accumulation of physical or financial capital and requires the diversion of funds from current consumption in order to obtain additional income in the future.
Features of the modern theory of human capital:
application of the economic approach to the analysis of various phenomena of human activity;
the transition from the analysis of current indicators of human vital activity to indicators covering the entire life cycle;
highlighting investment aspects in the behavior of agents in the labor market;
consideration of human time as the main economic resource.
Human capital funds, which form a certain stock of it, exist potentially, regardless of whether they are currently being used or not. Funds are converted to assets if they are active in production and generate income.
Human capital funds:
education funds;
production preparation funds;
health fund;
mobility fund;
fund of possession of economically significant information;
human reproduction fund.
The concept of investment is of great importance in the theory of human capital. “Investing in human capital is any action that increases the skills and abilities and thus the productivity of workers. Costs that contribute to an increase in someone's productivity can be viewed as an investment, because current expenses, or costs, are carried out with the expectation that these costs will be many times offset by an increased income stream in the future. " The main types of investment in human capital are spending on education, health care and mobility.
Investment in human capital is assessed using internal rates of return. They are similar to the rates of return on capital and make it possible to assess the effectiveness of investments in a person, primarily in the field of education and industrial training.
“Human capital theorists assume that when investing in training and education, students and their parents behave rationally, weighing the respective benefits and costs. Like ordinary entrepreneurs, they compare the expected marginal rate of return on such investments with the return on alternative investments (interest on bank deposits, dividends on securities, etc.). Depending on what is more economically feasible, a decision is made either to continue studies or to terminate it. The rates of return act, therefore, as a regulator of the distribution of investment between different types and levels of education, as well as between the education system as a whole and the rest of the economy. High rates of return indicate underinvestment, low rates of overinvestment. "
The role and place of a person as a bearer of productive forces in the form of human capital in the system of complex social relations are not unambiguous, since he plays various social and economic roles, performs various functions.
Modern economy is a very complex and ambiguously interpreted phenomenon; various approaches are used to characterize and identify its essence and main features. Several forms of modern economy can be distinguished, the degree of validity and development of which is different. In the author's opinion, these forms are largely determined by the role and place of human capital.
For example, modern society has traditionally been viewed as post-industrial. One of the characteristic features of an economy corresponding to a post-industrial society is the leading role of the tertiary sector (service sector), which is manifested in a decrease in the relative importance of the primary and secondary sectors in the total labor force of developed countries and in the volume of GNP.
The term "information economy" was introduced into scientific circulation by the American researcher M. Porat in the mid-70s of the XX century. It designated a cluster of industries producing modern databases and tools that ensure their functioning and application. For the information economy, information is the determining productive resource, and knowledge workers prevail in the structure of the employed.
In the knowledge economy, the most important production resource is not just information, but information mastered by a person, i.e. turned into knowledge. Growth and competitiveness in the knowledge economy is ensured by the creation, dissemination and application of knowledge in the form of high-tech products and services. Knowledge is a significant resource for all industries, sectors and all participants in economic processes.
Thus, the formation of a "knowledge economy" is associated with the fact that differences in the economic development of countries are less related to the amount of available natural resources, and more related to the ability to improve the quality of human capital, i.e. with the ability to create new knowledge and translate it into the methods of organization and production technology used. The growth in the significance of this parameter is the growth in the share of intangible assets in productive capital at the meso-level and in GDP at the macro-level.
The new economy is a concept interpreted in the early 80s of the XX century as an economy in which the leading role is shifted to the production of services, rather than material goods, in the 90s it began to denote a set of industries characterized by the presence of high-tech elements.
Finally, the leisure time economy is shaped by the transformation of a high productivity and wealth society into a leisure time society. In these conditions, life is perceived as entertainment, and work serves only as a means for organizing it. Free time is interpreted as an economic good, access to which is limited and which has a certain usefulness. The free time economy is characterized by the special role of activities in the spheres that ensure the spending of free time and the increase in the usefulness of it. According to some researchers, "The basis for the development of mankind can only be the creation of a sufficient amount of material and spiritual benefits in kind (including the benefit of" free time ")."
Consequently, to engage in all types of activities, including both labor and leisure, a developed human capital is required.
The above provisions are presented in table. 1.1.
Table 1.1 - The relationship between the forms of modern economy and the assessment of the role of the place of human capital
Forms of a modern economy An approach to assessing the role and place of human capital 12 Economy corresponding to a post-industrial society Assessment of the role and place of human capital stems from a qualitatively new nature of human activity and an increase in its importance within the service sector Information economy A distinctive feature of the information economy is that the defining productive resource here is information or in another form, and in the structure of the employed, knowledge workers predominate, since information resources are a direct product of intellectual activity. A special characteristic of a person's productive abilities, forming human capital funds, is assumed. New economy In the new economy, a situation is emerging in which, along with the growth of the importance of such a factor as human capital, represented in the models of economic growth as intangible technical progress, the importance of materialized material and technical progress does not decrease at all. However, materialized technological progress is based on the active participation of human capital Economy of free time The prerequisite for the formation and development of the economy of free time is a highly developed production of goods and services, based, among other things, on the state of such a resource as human capital. The economy of free time is based on a high level of development of human capital, which makes it possible to obtain a relatively high utility from free time Economy of knowledge or economy based on knowledge The place and role of human capital is determined by the capabilities of its bearer to form new knowledge and, on its basis, create tangible and intangible values. capital is directly related to human capital, then their formation is associated with certain investments. In the so-called intellectual economy, the emphasis is on intensive investment in human capital and information technology.
From a certain point of view, all the forms of modern economy noted above can be considered as manifestations of the economy of human capital, since in any of these forms the main resource is the presence of human abilities to receive information, process it into knowledge and use it in productive activities and within the framework of free time. Currently, this is evident within all occupational groups, in particular, in the United States, skilled workers make up about 50% of the working population, and in Germany - 45%.
A detailed classification of possible types of human capital is given in the article by V.T. Smirnov. and Skoblyakova AND.The. (Oryol State Technical University). They distinguish:
health capital;
labor capital;
intellectual capital;
organizational and entrepreneurial capital;
cultural and moral capital;
social capital;
brand equity;
structural capital;
organizational capital.
A system of indicators is used to characterize the quality of human capital (level, quality, quantity). These are integral, private, social (natural) and economic (cost) indicators.
And Akulin notes that the full dynamics of costs and benefits makes it possible to determine the objective value - the price of human capital for various types of labor. Using these prices, you can determine the objective value of human capital, as well as the cost of capital and labor.
Economists define the cost of human capital at both the macro and micro levels.
The micro level is the cost of a firm's costs to rebuild the firm's human capital. Namely:
advanced training of already hired employees;
medical examination;
sick leave payment;
labor protection costs;
voluntary health insurance paid by the company;
payment of medical and other social services for an employee of the company;
charitable assistance to social institutions, etc. Firms are motivated by the fact that the income generated will be higher than the costs incurred.
At the macro-level, we consider social transfers provided to the population, both in kind and in cash, as well as preferential taxation, which is the target spending of the state. These costs include the costs of households for the preservation and restoration of human capital.
Economists give another definition of human capital:
The amount of human capital, reduced to a given moment by discounting, is the sum of all expected income from labor.
The accumulation of human capital consists of certain costs of a person (family, company, state) aimed at:
to maintain health;
to receive general or special education;
job search;
for vocational training and retraining in production;
migration for reasons dependent and independent of a person;
birth and upbringing of children;
search for acceptable information on prices and earnings, etc.
It is generally accepted that in order to calculate the economic efficiency of investments in human capital, it is necessary to take into account vital indicators characterizing the socio-economic situation in the country (region). This indicator is the GDP for the country as a whole or the GRP for the region.
Thus, the state of human capital determines the essence of the forms of a modern economy as such, as well as their specificity within individual countries, which affects, among other things, economic growth and the competitiveness of national economies.
... Problems of the formation and accumulation of human capital
The intensification of innovative processes in the economy, the widespread dissemination of information and computer technologies, the intellectualization of labor, the globalization of economic activity lead to an inevitable transformation of the content and structure of human capital, the nature of the impact of its assets on economic development, make adjustments to the process of its formation, accumulation and conditions of effective practical implementation. In the process of accumulating knowledge, a person is inherent in the properties of self-improvement and self-development, the result of which is an increase in the qualitative characteristics of human capital. If earlier the educational component of human capital was of primary importance for economic development, then at the present stage it is being transformed and included in the mechanism of the impact of human capital on economic development through its innovative component.
There is a correlation between the various components of human capital. So, for example, the state of health as the most important capital-forming asset is associated not only with external factors, but also with the level of education, culture, motivational and value attitudes, etc. It should be noted that the costs of protecting and promoting health do not accumulate, but act as part of the current costs carried out with the aim of reproducing human capital of a certain quality and maintaining the normal life of its carrier - a person.
In modern conditions, the importance of the development of the sphere of culture is actualized in preparation for the functioning of human capital, strengthening the social mobility of a person, the formation of his moral, aesthetic needs, the formation and development of the individual.
The study of human capital as a set of interrelated and complementary components, each of which corresponds to a certain type of investment, makes it possible to substantiate the need for complementarity of investments in the reproduction of human capital, as well as to put forward a hypothesis about the emergence of an internal synergistic effect as a result of the mutual influence of the accumulation of its various assets.
An analysis of the real processes of reproduction of human capital in developed countries shows that the state, being one of its main subjects, invests colossal resources in the formation and development of national human capital. Unlike other entities, it is more interested in increasing its quantitative and qualitative parameters, since it is highly qualified workers and successful entrepreneurs that guarantee the achievement of high economic efficiency, which leads to an increase in the volume of social production and, in general, to economic growth. From these positions, human capital is viewed as an object of promising and extremely important investments that have the properties of not only internal synergetic, but also external effects. At the same time, external effects derived from the accumulation of human capital are reflected at the micro-, macro- and mega-levels of economic development.
Intensive accumulation of human capital implies the need for certain costs, carried out at various levels of the social hierarchy, aimed at enhancing the productive and entrepreneurial abilities of a person, increasing his production capabilities by expanding functions and increasing labor and entrepreneurial potential by preserving and strengthening physical, mental and social health, obtaining high-quality education, continuous acquisition of knowledge, professional and general cultural improvement.
The most important prerequisite for the formation and accumulation of human capital is investing in its assets as a purposeful process of investing in a person in order to improve his quality characteristics and form potential income-generating abilities. The increase in human capital assets largely depends on the socio-economic environment and the system of institutions, the impact of which can stimulate or slow down the development of certain productive and entrepreneurial abilities, qualitative characteristics of workers, influence the scientific, educational, professional levels of the population, motives and incentives labor and business activities, the state of physical, mental and social health of a person, the possibility of his adaptation to changing conditions as a potential ability to transform a person and society as a whole.
Note that the return on investment in human capital depends, firstly, on its volume and quality characteristics, and secondly, on the impact of a set of factors related mainly to the demand for labor and entrepreneurial abilities (ensuring institutional and socio-economic conditions for effective practical implementation of accumulated human capital; distribution of returns from it among economic entities; availability of a material base for the reproduction of human capital, as well as a well-functioning mechanism for transferring accumulated experience, intensive exchange of information received but rationalization of labor and business activities).
Along with the need to ensure the effective implementation of accumulated human capital, in the author's opinion, the degree of well-functioning of the market motivational mechanism that correlates the level of remuneration with the educational, qualification and intellectual potential of workers and activates the system of incentives to invest in human capital is of great importance.
With the change in the role of labor resources in the process of creating added value, the importance of investment in the development of the labor resources of the economy is being revised. From an economic point of view, investments in human capital are expenditures made in the social sphere in order to increase labor productivity in the future and contribute to the growth of future incomes of both individual carriers of capital and society as a whole. Therefore, it is generally accepted to use indicators of socio-economic development of a country or region in the analysis of the effectiveness of such investments.
This type of investment is heterogeneous in its composition and is concretized by type of costs. In the economic literature, the composition of investment costs differs, although it usually includes three types:
-expenses for education, including general, special, on-the-job training, advanced training;
-the costs of medical care, the creation of living conditions and the improvement of the living environment, which lengthen the life span and increase the efficiency;
the costs of maintaining the mobility of labor resources, which ensures their movement to the meta need for them.
Thus, investment in health capital is the basis for human capital in general, since it prolongs the working period of a person's life and, thus, slows down the physical deterioration of human capital. At the macroeconomic level, the study of health as an economic category uses a special term public health (Public Health as a resource) - a medical and social resource and the potential of society, contributing to ensuring national security. Investment in education capital creates a skilled and more productive workforce. The literature also considers the process of obsolescence of the accumulated scientific and educational potential. This type of wear is slowed down through investment in retraining and advanced training.
The effect of investments in cultural capital for society is primarily social in nature: the formation of culture is a condition for any professional training in the future, creates the preconditions for the social mobility of a person or a social group, transfers the cultural heritage of society from generation to generation. At the same time, in the field of culture, it is certainly possible to implement projects that bring commercial benefits to the investor. There are also studies confirming the dependence of a person's labor efficiency on his preferences, worldview, and the general level of his culture.
According to the tradition that has developed in economic theory, labor and capital are distinguished into two independent factors of social production. To a certain extent, human capital has features of both the first and the second. Labor is a direct process of using human capital. Just like fixed capital, human capital wears out, is amortized, and is subject to the influence of scientific and technological progress. It is characterized by the law of diminishing marginal returns: as knowledge and skills grow, each successive increase in human capital makes a smaller contribution to an increase in productivity. The cumulative potential effect of building human capital in the education process diminishes with a decrease in the forthcoming period of employment, and opportunity costs rise as income rises. At the same time, in contrast to fixed capital, the efficiency of using human capital is influenced by the subjective factor of psychophysiological properties and personal motivations of a particular employee. With regard to fixed capital, the productivity of its use depends on the qualifications and efficiency of the personnel of the enterprise. Therefore, economic theory considers the issue of investment behavior of the employer in relation to the intellectual potential of workers as a source of economic efficiency.
Nobel laureates G. Becker and T. Schultz are considered the founders of the modern theory of human capital. The methodology of their research differs in that various aspects of human life, which were previously the subject of study of other disciplines, are investigated using purely economic concepts such as rarity, price, opportunity costs, etc. For example, G. Becker calculated the economic efficiency of education by comparing the benefits of education and its costs. To determine the net benefit from education, the lifetime earnings of college graduates were subtracted from the lifetime earnings of college graduates. The main article of the costs of education in G. Becker's approach is the cost of lost profit, that is, the income lost by a person during the years of study. The ratio of the net income of education to its costs, according to G. Becker, gives on average a profitability that is 10-15% higher than the profitability of most firms.
In the countries of the former USSR, the economic analysis of education was first performed by S. Strumilin. Based on statistics from the late XIX - early XX centuries. he quantified the factors of education by examining the contribution of various levels of education to the state budget and the employee's budget. Like G. Becker, S. Strumilin determined the costs of education through the loss of earnings, calculated the profitability of education for an individual and society as a whole.
One of the key theses of the theory of human capital is that in an information society, human capital is the most important factor in the reproduction of national wealth and its necessary element. T. Schultz, using the example of the US economy, proved that the income from investment in human capital is greater than from investment in physical capital. From this it follows that it is especially important for countries with low levels of human realization and low incomes to invest in health, education and science. A quantitative analysis of significant amounts of statistical information using expert computer systems has provided the practical significance of research by representatives of the theory of human capital.
It can be concluded that the general approach of the considered theory to the assessment of investment in human capital is methodologically the same type of assessment of the effectiveness of investment in other types of assets, primarily in fixed assets. At the same time, a more detailed study of this issue has to overcome certain methodological difficulties. They are associated, firstly, with the impossibility of unambiguously determining the range of costs classified as investments in human capital; secondly, with a variety of results of professional activity of labor resources; thirdly, with the presence of a long lag between the investment of funds and the receipt of the result; fourth, with the difficulty of determining which results correspond to specific investments, given that, on the scale of the national economy, the processes of capital investment in the social sector and the processes of obtaining returns from these investments are continuous; fifth, with the differentiation of the return on capital to education depending on the territory, length of service and other factors not directly related to training. It should also be borne in mind that education costs are productive capital if the content of knowledge acquired by a person corresponds to the demand in the labor market, in other words, "there is a quantitative and qualitative correspondence between the structural characteristics of the total labor force and the objective needs of social production."
Thus, the process of reproduction of human capital as part of the country's national wealth is impossible without appropriate investments. At the micro level, investments in human capital are represented by such cost items as staff development; sick leave payment; labor protection costs; voluntary health insurance paid by the company; payment of medical and other social services for an employee of the company; charitable assistance to social institutions, etc. ...
At the macro level, the role of investments is played, firstly, by households' expenditures on the preservation and restoration of human capital, and secondly, by state social transfers and social tax benefits. The United States is a prime example of active government investment.
The branches of the social sphere act as a mechanism for the reproduction and amortization of human capital, which in the civilized world is recognized as part of the national wealth and the most important factor of economic growth. Investments in human capital, in addition to social effects, always imply a cost effect for the person making them. For the employee, the differentiation of his income is the motivation for maintaining health and obtaining education and the formation of professional skills. For a company that invests in personnel development, it is about increasing labor productivity. For society as a whole, the effect is expressed in maintaining the competitiveness of the national economy and GDP growth.
theory human capital Belarusian
3. The problem of human capital in the Belarusian economy
Increasing the competitiveness of the national economy and its integration into the world economy is the most important task facing countries with economies in transition. The development of the economy, the formation of a new post-industrial society in the context of globalization turns innovation into the main factor of competitiveness.
Let us estimate the dynamics of investment in human capital based on the study of the dynamics of spending on education.
World practice shows that the education system has the ability to function and develop normally, to provide complete general secondary education for all citizens of the country, when expenditures for these purposes are at the level of 5-7% of GDP, taking into account, of course, the specific conditions and traditions of each country. As an example, you can see the values of this indicator for a number of developed countries (Table 3.1).
Table 3.1 - Government spending on education,%
CountryPublic spending on education To total public spending To GDP Russia12.03.6Australia16.65.0Austria10.86.0Germany9.74.6Italy9.94.9Canada12.56.5USA15.2ND Finland12.86.6Switzerland13.05.4Sweden12.87, 2 Japan 10.7 3.6 Note - Source:.
These data do not allow us to answer the question of whether sufficient funds are allocated for education. In addition, the share of expenditures is determined from the values of government expenditures and GDP that differ across countries. Nevertheless, the given indicators do not have a very significant scatter, which may indicate the presence of some general patterns in the determination of public spending on education.
At the same time, the amount of public funds allocated to education is almost universally assessed as insufficient, which in a certain sense can be presented as a permanent factor - a lack of resources. The impact of this factor makes us look for additional sources and form mechanisms for the rational use of available resources.
Let us describe the procedure for financing education in the Republic of Belarus.
In recent years, the education sector has received from the state budget only 60-70% of the funds required for development (Table 1.4). Over the past years, the amount of budgetary allocations for the maintenance of educational institutions did not exceed 7% of GDP, which is significantly lower than the level determined by the law on education (at least 10%) and is not enough to solve existing problems in education and carry out the planned measures to transform it in accordance with with the requirements of sustainable development of the country's economy. The allocated funds do not cover all costs, which are increasing at a much faster rate than the budget revenues, and do not allow solving urgent problems in the industry, and first of all - technical equipment of educational institutions, updating and expanding their material and technical base. Extra-budgetary sources could improve the financial position of the industry. However, they occupy a small share in the total amount of funding, which is explained by the lack of an economic base for creating a developed network of charitable foundations, the development of patronage and sponsorship.
Table 3.2 - Public spending on education in the Republic of Belarus,% of GDP
Year Value19904.919956.819966.219976.519986.519996.420006.420016.520026.320036.120046.020056.220066.020075.720085.120094.9 Note - Source: Own development.
Thus, during the entire analyzed period, spending on education in Belarus did not approach 10% of GDP. The maximum value was reached in 1997, 1998 and 2001 - 6.5%, according to the results of 2009, only 4.9% of GDP was spent on education.
The structure of government spending on education in 2008-2009 is presented in Table 3.3.
Table 3.3 - Government spending on education, billion rubles
Expenditure item 20082009 Deviation Growth rate,% Pre-school education10.614.74.1138.7 General secondary education18.644.325.7238.2 Vocational education15.928.913.0181.8 Secondary specialized education291.0387.596.5133.2 Higher and postgraduate education819.31156.6337 3141.2 Professional development and retraining of personnel 51,071,320,2139.8 Extracurricular education and training 16,926,89,9158.6 Applied research and scientific programs18,320,01,7109.3 Other issues36,624.6-12,067.2 Total 1278.21774.8496 , 6138.9 Note - Source: Own development.
So, the sum of expenditures of the republican budget for preschool education in 2008 amounted to 10.6 billion rubles, in 2009 - 14.7 billion rubles, having increased by 4.1 billion rubles. or 38.7%. Expenditures on general secondary education at the end of 2009 amounted to 44.3 billion rubles, having increased by 25.7 billion rubles in comparison with the previous year. or 138.2%. Budget expenditures on vocational education in 2008 amounted to 15.9 billion rubles, in 2009 - 28.9 billion rubles, having increased over the year by 13 billion rubles. or 81.8%. At the end of 2009, the cost of secondary specialized education amounted to 387.5 billion rubles, having increased by 96.5 billion rubles in comparison with the previous year. or 33.2%. Expenditures on higher and postgraduate education in 2008 amounted to 819.3 billion rubles, in 2009 - 1156.6 billion rubles, having increased over 2009 by 337.3 billion rubles. or 41.2%. According to the results of 2009, budget expenditures on professional development and retraining of personnel amounted to 71.3 billion rubles, which exceeded the same indicator in 2008 by 20.2 billion rubles. or 39.8%. Expenditures on out-of-school education and training in 2008 amounted to 16.9 billion rubles, in 2009 - 26.8 billion rubles, having increased over 2009 by 9.9 billion rubles. or 58.6%. Budget expenditures on applied research and scientific programs in 2008 amounted to 18.3 billion rubles, in 2009 - 20 billion rubles, having increased by 1.7 billion rubles. or 9.3%. Other expenses in the field of education in 2008 amounted to 36.6 billion rubles, in 2009 - 24.6 billion rubles, having decreased by 12 billion rubles. or 32.8%. The total expenditures of the republican budget on education in 2008 amounted to 1278.2 billion rubles, in 2009 - 1774.8 billion rubles, an increase of 496.6 billion rubles. or 38.9%.
In the short term, the state policy in the field of financial support of education in the Republic of Belarus will be aimed at:
maintaining direct budget funding;
creating conditions for attracting extra-budgetary funds by methods of economic incentives;
development of paid services in the field of education;
introduction to the practice of educational loans;
development of a mechanism for investment by sectors of the national economy to train personnel of the necessary specialties for them;
search for mechanisms to save public funds allocated to education.
There are almost 10 thousand educational institutions of various levels in the country, in which more than 2 million children, pupils and students study and educate, and over 445 thousand teachers and specialists work.
Consistent measures are being taken to improve the legal regulation of public relations in the field of education. Only in recent years, in addition to the law "On education", the laws "On vocational and technical education", "On the education of persons with psychophysical disabilities (special education)", "On general secondary education", "On higher education" were adopted. The accumulated experience of legislative activity in the educational sphere has made it possible to successfully solve such a large-scale task as the creation of the Education Code of the Republic of Belarus. At present, the work on its preparation is nearing completion for consideration by the House of Representatives of the National Assembly of Belarus in the second reading. The draft code not only preserves all the most important achievements of the national education system and takes into account global trends, but, which is very important, sets the parameters and directions for the development of the industry in the long term.
Legislation in the field of education that meets modern requirements, and stable budgetary funding make it possible to successfully resolve issues of material, personnel and educational and methodological support of the industry. In our system, ten social standards have been adopted and are strictly followed.
The material base of educational institutions is being consistently strengthened. Over the past five years, over 200 educational facilities have been commissioned in the country. These are 49 new schools, 30 preschool institutions, educational and laboratory buildings, residential houses for orphans, dormitories and other facilities important for the industry.
Since 2009, on behalf of the head of state, such a socially important project as the construction of a student village in Minsk has been implemented. By 2012, it is planned to build 8 student dormitories in the capital for almost 9 thousand places. A dormitory for 1030 places has already been built for students of the Belarusian State University.
The existing material base is also maintained at the proper level. Over the past five years, over 2 thousand educational facilities have been overhauled. In the current year alone, it is planned to spend over 460 billion rubles on the reconstruction and repair of institutions in the industry.
The educational and methodological base of educational institutions is being strengthened. Information and communication technologies in the educational process are not the distant future, but the present.
All educational facilities are equipped with modern computers, consistent work is underway to create and use an electronic software product in the educational process, during 2011 it is planned to complete the connection of our institutions to broadband Internet access.
The national education system fully meets the needs of the economy in personnel. In 2006-2010, more than 750 thousand workers, specialists and employees were trained for the national economy, including 236 thousand people with vocational education, 216 thousand people with specialized secondary education, 302.2 thousand with higher education. In 2010 alone, more than 150 thousand people graduated from vocational education institutions.
Such results became possible largely due to the structural changes carried out in the vocational education system. Vocational lyceums and colleges have replaced vocational schools and technical schools in the systems of vocational and secondary specialized education. In the higher education system, institutions have given way to university-type educational institutions. The continuity of all levels of professional education is ensured.
Currently, over 90% of vocational education institutions function as multidisciplinary ones. Most of the professions are integrated, due to which 75% of graduates receive two or more specialties at the same time. Priority is given to the training of personnel with an advanced level of qualifications. In 2010, their share in the total number of graduates was about 25% (in 2009 - 23%). Taking into account the needs of the sectors of the economy in the system of secondary specialized education, the training of workers in the professions of the innovative sphere has begun.
A characteristic feature of the development of higher education is the transition to mass higher education. The training of specialists with higher education is provided by 45 state and 10 higher educational institutions of private ownership. The number of university students exceeded 430 thousand people, and the indicator of the number of students per 10 thousand people reached 454 people (in 2006 - 393). Higher educational institutions provide training for specialists in all areas of the country's economy and social sphere. Currently, there are 15 profiles, more than 400 specialties and over 1000 specializations. In recent years, taking into account the needs of the country's innovative development, almost 40% of them have been updated.
The priority is given to the training of specialists for the enterprises of mechanical engineering, power engineering, construction and architecture, agriculture. Particular attention is paid to the training of specialists for foreign economic activity and with knowledge of a spoken foreign language.
In recent years, universities have opened such specialties as "construction of thermal and nuclear power plants", "steam turbine installations of nuclear power plants" (BNTU) "physics. nuclear physics and technology "(BSU)," radiation chemistry "(BSU)," nuclear and radiation safety "(Moscow State University of Economics named after D. Sakharov)," electronic monitoring and control systems at nuclear power plants "(BSUIR)," nanotechnology and nanomaterials in electronics "(BSUIR)," transport logistics "," micro- and nanotechnics "," computer mechatronics "(BNTU)," tourism and nature management "(BSTU), training in the specialty" technology and equipment of peat production "(BNTU)," applied informatics "and" aerospace radio-electronic and information systems and technologies "(BSU).
More and more specialties are emerging leading to the acquisition of two qualifications at the same time, which provides better employment opportunities for graduates.
Qualitative changes have also taken place in the content of vocational education. The transition to a new generation of educational standards and curriculum documentation in the systems of vocational and secondary specialized education has taken place; in the higher education system, this process is nearing completion.
Achievement of high quality training of specialists is possible only through the integration of educational, scientific and innovative activities.
For these purposes, the necessary conditions are created for the formation of students' skills in research activities, work in research teams. In particular, the number of student research laboratories has almost doubled since 2005 and reached 98, and their funding has also grown. The number of students involved in all forms of research work has increased by 1.4 times in comparison with 2005. The number of publications prepared with the participation of students increased by 1.7 times.
The number of reports made by students at conferences of various levels has increased by 40%. The number of scientific works submitted by students to the republican competition has also grown (in 2009 - 3970, in 2005 - 2807).
This organization of the educational process allows future specialists to form the qualities that are in demand in the modern world: social and professional mobility, the ability and readiness for continuous learning and self-study, the ability to work in a team.
Close attention is paid to resolving issues and taking the necessary measures to organize continuous professional training of personnel. This year, vocational training, retraining, internship, advanced training, targeted courses are planned for more than 550 thousand people. The list of retraining specialties, profiles (directions) of education, in which personnel training is carried out, has significantly expanded (this is more than 5.5 thousand professions, 437 specialties, 81 directions of education). Further development was received by the advanced training of managers and specialists working in the field of business, foreign economic activity, information security.
The innovative development of global health care based on scientific advances and the introduction of new effective technologies for the prevention, diagnosis and treatment of diseases necessitates an annual revision of the procedures and standards for the provision of medical care, bringing them closer to the modern possibilities of medicine and the level of quality corresponding to international ones. It is no coincidence that the 21st century has been declared the century of biomedical sciences.
Figure 3.1 - Expenditures on health care from the budget, billion rubles
Federal Agency for Education
Moscow State University of Economics,
statistics and informatics (MESI)
Department of Economic Theory and Investment.
Course work in the discipline "Microeconomics"
on the topic: "The essence, types and efficiency of investments in human capital"
Supervisor: ………………….
Is done by a student
groups ………….
……………………
Moscow - 2010
Introduction ………………………………………………………………...……..3
Chapter 1... Human capital: concept and structure …………………… ..5
1.1 The essence of the concept of "human capital". ………………………… ... 5
1.2 Theory of human capital…. ……………………………………… 7
1.3 Methods for assessing human capital. …………………………… .... 9
Chapter 2. Investments in human capital …………………………… ..12
2.1 The role and importance of investment in human capital. ……. …… .....… 12
2.2 Types of investments in human capital. ………………………… ..14
Chapter 3. Assessment of investments in human capital …………………… .16
3.1 Implementation of the process of investing in human capital ... 17
3.2 Evaluation of the effectiveness of investments in human capital. ……… .... 20
Conclusion …………………………………………………………...............23
……………………………..………24
Introduction
Human capital- capital embodied in people in the form of their education, qualifications, knowledge, experience. The higher this capital, the more usually the labor opportunities of workers, their labor productivity, productivity and quality of labor.
The issue of investment in human capital has become very relevant today for modern Russia, since the country's economy has become relatively stable, the income of the population is high, relatively 10-15 years ago.
The capital of health, education and culture is an investment in a person made with the aim of forming, maintaining and improving his health, performance and education. At the same time, it is noted that the capital of health is a supporting structure, the basis for human capital in general.
Macroeconomic data show that countries with low levels of health and education development face much more difficulties in striving to achieve sustainable development than those countries where the situation with the development of health and education is more favorable.
Thus, investment in human capital is not only a necessity, but also has a high degree of profitability and wide opportunities to influence economic growth, and therefore the chosen topic is extremely relevant.
The purpose of the course work: show the features of human capital, the importance of investment in human capital, as well as show the importance of assessing human capital and the effectiveness of investment in human capital.
The structure of the course work: this work consists of an introduction, three chapters, conclusions and a list of used literature.
The first chapter of this course work examines the essence of human capital, its features, the main provisions of the theory of human capital, as well as methods for assessing human capital.
The second chapter examines the types of investment and the role of investment in human capital.
The third chapter is devoted to assessing the effectiveness of investment in human capital and the investment process itself.
Chapter 1. Human capital: concept and structure
1.1 The essence of the concept of "human capital"
Under human capital in economics, capital is understood, represented in an individual by the potential ability to generate income, based on innate intellectual abilities and talent, as well as knowledge and practical skills acquired in the process of training, education and practical activities of a person.
Human capital is subdivided into:
1) General human capital - knowledge, abilities, skills that can be implemented in various workplaces, in various organizations.
2) Specific human capital - knowledge, abilities, skills that can be used only in a specific workplace, only in a specific company.
3) Human intellectual capital - capital embodied in people in the form of their education, qualifications, professional knowledge, experience.
Human capital, being part of the total capital, represents the accumulated costs of general education, special training, health care, and labor force movement.
Economists classify the types of "human capital" by type of costs, investments in "human capital". I.V. As a result, Ilyinsky singles out the following components: the capital of education, the capital of health and the capital of culture. Thus, in his opinion, human capital formula(1) takes the following form:
CHK = Kz + Kk + Ko, (1)
where HC is human capital;
Ko is the capital of education;
Кз - health capital;
Kk is the capital of culture.
Health capital is an investment in a person made with the aim of forming, maintaining and improving his health and performance. Health capital is a supporting structure, the basis for human capital in general.
Distinguish two types of human capital :
1) consumer, created by the flow of services consumed directly (creative and educational activities);
2) productive, consumption, which promotes social utility (creation of means of production, technologies, production services and products).
Human capital is classified according to the forms in which it is embodied:
1) living capital includes knowledge, health, embodied in a person;
2) inanimate capital is created when knowledge is embodied in physical, material forms;
3) institutional capital is institutions that promote the effective use of all types of human capital.
Human capital is quantified: the total number of people, the number of active population, the number of students, etc. Qualitative characteristics: skill, education and also what affects the performance of a person as a whole and contributes to an increase in labor productivity.
Modern economists agree that human capital is the main driving force of society, and that the state, and not just the individual himself, should pay special attention to the formation of human capital.
1.2 Human capital theory
Human capital theory studies the process of qualitative improvement of human resources, forming one of the central sections of the modern analysis of the labor supply. Its promotion is associated with a real revolution in labor economics. The most important were:
1) the allocation of "capital", investment aspects in the behavior of agents in the labor market;
2) the transition from current indicators to indicators covering the entire life cycle of workers (such as lifetime earnings);
3) recognition of human time as a key economic resource.
The idea of human capital has long roots in the history of economic thought. One of its first formulations is found in "Political Arithmetic" by W. Petty. Later it was reflected in "The Wealth of Nations" by A. Smith, "Principles" by A. Marshall, the works of many other scientists. However, as an independent section of economic analysis, the theory of human capital took shape only at the turn of the 50-60s of the 20th century. The merit of its nomination belongs to the famous American economist, Nobel Prize winner T. Schultz, and the basic theoretical model was developed in the book by G. Becker "Human Capital" (first edition 1964). Subsequently, the works of Ben-Porath (Yoram), M. Blaug, E. Lazer (Lazear, Edward), R. Layard (Layard, Richard), J. Mintser, J. Psharopoulos, Sh. Rosen (Rosen, Sherwin), F. Welch (Welch, Finnis.), B. Chiswick, etc.
Central to the theory of human capital belongs to the concept of internal rates of return. They allow us to assess the effectiveness of human investment, primarily in education and training. Human capital theorists assume that when investing in training and education, students and their parents behave rationally, weighing the respective benefits and costs. The rates of return act, therefore, as a regulator of the distribution of investment between different types and levels of education, as well as between the education system as a whole and the rest of the economy. High rates of return indicate underinvestment, low rates of overinvestment. Distinguish between private and social norms of return. The former measure the efficiency of investments from the point of view of individual investors, the latter - from the point of view of the whole society.
Thanks to the theory of human capital, investment in a person has come to be regarded as a source of economic growth, no less important than "ordinary" investment. T. Schultz, E. Denison, J. Kendrick and others quantified the contribution of education to economic growth. It was found that during the 20th century, the accumulation of human capital outstripped the rate of accumulation of physical capital.
Another area where the contribution of human capital theory has been particularly significant is in the analysis of problems of economic inequality. Using the apparatus of supply and demand curves for investment in human capital developed by him, H. Becker formulated a universal model for the distribution of personal income. The unequal arrangement of the demand curves for investment in human capital reflects the inequality in the natural abilities of students, while the unequal arrangement of the supply curves reflects the inequality in the access of their families to financial resources. The structure of the distribution of human capital, and, therefore, of earnings, will be the more uneven, the stronger the spread in the individual curves.
In the 70s, the theory of human capital was attacked by the so-called filter theory (among its authors are well-known economists and sociologists - A. Berg, M. Spence, J. Stiglitz, Jhon, P. Wiles (Wiles, Peter) , K. Arrow). According to this theory, education is a mechanism that sorts people according to their level of ability. Information about this goes to firms for free, helping to select the most promising candidates for jobs. Higher productivity turns out to be associated not with the education received by workers, but with their personal abilities, which exist before and beyond it, and which it simply makes explicit.
Under the influence of the theory of human capital, in which education is assigned the role of a "great equalizer", a certain reorientation of social policy has taken place. In particular, training programs have come to be seen as an effective tool for fighting poverty, perhaps preferable to direct income redistribution. An important finding was that generally accepted estimates of economic inequality are exaggerated.
The ideas embodied in the theory of human capital have had a serious impact on the economic policy of the state. Thanks to her, the attitude of society towards investing in a person has changed. They have learned to see investments that provide a production, and long-term in nature, effect. This provided a theoretical basis for the accelerated development of the education and training system in many countries of the world.
1.3 Methods for assessing human capital
An analysis of the main methods for assessing intellectual assets shows that there is no single methodology that would reliably assess the totality of a company's intellectual assets. In addition, even the available methodologies are not an adequate reflection of the fair value of intellectual assets, and, as a rule, express the value of the components being assessed rather approximately.
Let's take a closer look at some methods for assessing human capital :
1. Qualitative assessment of human capital (Expert approach)
Within the framework of the expert approach, both the qualitative characteristics of a particular employee and the totality of the properties of human (personnel) potential are assessed. With greater objectivity of this technique, weighting factors are used. The calculation procedure includes three stages:
1) Determination of key indicators that identify the employee's contribution to the company's knowledge capital;
2) Establishing weight shares (significance coefficient) for each indicator, based on how often each indicator appears in the person being certified;
3) Determination of a point scale for assessing each indicator.
Next, the results are analyzed, and the average score for each employee is determined. These values are compared with the reference values obtained by the empirical method (by summing all points for all qualitative indicators). The expert approach includes various modifications and is a necessary component of the assessment of human capital.
2. Assessment of human capital based on directed investments
One of the main competitive advantages of the company is its innovation policy. Any innovation policy is developed
and are implemented by employees, therefore the efficiency of the company's functioning directly depends on how literate and educated these employees are.
Based on this, it is obvious that there is a need for constant and continuous training of the company's employees. You can consider the amount of expenses in education, retraining of a particular employee or all employees of a company as a long-term investment in the knowledge capital of a given company.
However, investments in human capital are justified when there is a tendency to increase the efficiency of the company and the contribution of a particular employee to this trend is traced. It is this pattern that underlies the assessment of human capital by the method of investment (education costs).
All costs in human potential can be conditionally divided by sources of funding:
1) funding from the federal budget is the cost of education in educational institutions (schools, universities, etc.);
2) financing at the expense of the company, the employee of which is a specific person (costs of retraining, advanced training, additional training, etc.);
3) the costs that are due to the funds and time of a particular person. Self-financing or self-education plays a key role in building human capital.
At each stage, the cost-effectiveness of training is determined by the ratio of costs and benefits. An increase in labor productivity should be considered the result of investment in human capital. There is a certain relationship between these indicators, which can be expressed by the following formula (2):
E = (B - Bn) * C: Z, (2)
where NS- the efficiency of investments in human capital at the i-th stage; Bn- development of the employee before training; V- development of the employee after training; C- unit price; Z- investment in human capital.
An objective and reliable assessment of human capital is doomed to failure, since the results of human activity are influenced by a huge variety of factors that cannot be quantified.
It must be admitted that these models are considered to a greater extent as qualitative characteristics of the assessment of human capital, they are necessary, but to a greater extent are intended for internal management.
Chapter 2. Investments in human capital
2.1 The role and importance of investment in human capital
Investment in human capital refers to any measure taken to increase productivity.
The following types are distinguished in the scientific literature as costs associated with investments in human capital:
1) direct costs, or costs of a potential employee and society in the form of expenses for maintaining health, payment for education and vocational training, purchase of textbooks, costs of looking for work, change of place of residence;
2) lost earnings, which is another source of costs and arises due to the fact that in the process of investing in human capital, the employee is unable to work at all or has to work part-time due to the birth and upbringing of children;
3) moral damage, which is the third type of cost, which occurs due to the fact that getting an education and finding a job are rather difficult, migration disrupts the usual way of life, leads to parting with friends and acquaintances.
Investing in human capital presupposes the pursuit of some benefits for the investor, both for himself and for third parties. So, for an employee, this means an increase in the level of income, greater job satisfaction, better working conditions, and an increase in self-esteem. For the employer - increasing productivity, reducing the loss of working time and labor efficiency. With an increase in the level of education, the efficiency of the employee's labor increases either by increasing labor productivity, or the employee receives knowledge that makes him able to carry out such labor activities, the results of which are of great value. For the state - an increase in the welfare of citizens, an increase in gross income, an increase in civic engagement.
At the same time, the accumulation of intellectual capital implies not so much an increase in the amount of knowledge, but the development of skills in applying this knowledge, an awareness of one's significance and one's place in society, and the ability to adapt to changing conditions in one's favor.
Investing in human capital will save many types of valuable resources in the domestic economy, as well as make a significant breakthrough in the economy by increasing the competitiveness of domestic enterprises. While underinvestment will affect the decline in the competitiveness of manufacturers and directly on the future of our country.
Unfolding in developed countries in the late 70s - early 80s of the twentieth century, the second wave of scientific and technological revolution marked the transition from the industrial to the informational way of development. The essence of this transition boils down to the fact that the information technology paradigm encompasses all spheres and branches of the industrial economy, changing its scale, dynamics and internal content.
Hence, understanding the degree of influence of the information revolution in the industrial economy should be reduced to the realization that information technologies do not change the types of activities, but their technological ability to use as a direct productive force that which distinguishes humans from other biological creatures - the ability to understand and process symbols generating new knowledge. Such changes in the structure of the modern economy are considered today as a global structural shift, which marked the transition from a "material" to an "intellectual" economy, a "knowledge-based economy".
2.2 Types of investments in human capital
Investments in human capital include the costs of maintaining health, obtaining general and special education; costs associated with finding a job, vocational training in production, migration, the birth and upbringing of children, the search for economically significant information on prices and earnings.
K. McConnell and S. Brue distinguish the following types of investments in human capital:
1) expenditures on education, including general and special, formal and non-formal, on-the-job training;
2) health care costs, consisting of the costs of disease prevention, medical care, diet food, improvement of housing conditions;
3) costs of mobility, through which workers migrate from places of relatively low productivity to places of relatively high productivity.
There is also a division of investment in human capital into tangible and intangible. The first includes all the costs necessary for the physical formation and development of a person (the costs of giving birth and raising children); the second is the accumulated expenditures on general education and special training, part of the accumulated expenditures on health care and labor movement.
Of all types of investment in human capital, the most important are investments in health and education. General and special education improve the quality, increase the level and stock of human knowledge, thereby increasing the volume and quality of human capital. Investments in higher education contribute to the formation of highly qualified specialists, whose highly skilled work has the greatest impact on the rate of economic growth.
Investments in education are usually divided according to their content into formal and non-formal. Formal investments are obtaining secondary, special and higher education, as well as obtaining other education, vocational training in production, various courses, training in magistracy, graduate school, doctoral studies, etc. Informal is the self-education of an individual, this type includes reading developmental literature, improvement in various types of art, professional sports, etc.
Along with education, the most important investment is in health. The state of human health is his natural capital, part of which is hereditary. The other part is acquired as a result of the costs of the individual and society. During a person's life, the wear and tear of human capital occurs. Health investments can slow this process down. Not all investments in a person can be recognized as investments in human capital, but only those that are socially expedient and economically necessary.
Investments in human capital at the family level are also very important, since all components of human capital are acquired and increased through the investments that the family invests in their child, not even from his birth, but from the decision to have children. On the one hand, children for parents are a source of satisfaction, but on the other hand, raising children is a source of considerable costs, both explicit and implicit (primarily, parents' time).
In the creation of human capital assets, the role of individual companies (firms) is significant. They often act as the most efficient producers of this capital, because they have the conditions under which training can be given to meet current needs, and they also have information on the most promising areas for investment in education and training. However, firms invest as long as these investments generate net income.
By investing in their employees, firms seek to enhance their work productivity, increase productivity, reduce wasted time, and thereby strengthen their competitiveness.
The need for continuous training and development of personnel is due to a number of reasons. These reasons usually include the accelerated development of science and technology, the dynamics of the external environment, changes in consumer demand, new offers from competitors, etc. Naturally, continuous industrial training requires certain investments in human capital.
Chapter 3. Assessment of investments in human capital
3.1 Implementation of the process of investing in human capital
At present, the theory of human capital is becoming more and more widespread in Russia and abroad. Labor force, in accordance with the theory of human capital, is considered as a means of production that requires investment in order to increase productivity.
In particular, the process of investing in human capital can be divided into the following stages :
Stage 0. Career guidance costs.
At this stage, professional orientation and training in educational institutions of future specialists and skilled workers is carried out. This is an expensive stage, which is currently financed primarily from the state budget. However, recently there has been an increase in the number of students at their own expense or at the expense of employing firms.
Stage I. Search and recruitment costs.
The costs are of a constant nature, since they are associated with the systematic work of personnel services for personnel planning, the development of primary documentation, as well as with the conclusion of contracts with educational institutions, etc. In monetary terms, they are usually equal to 2-3 times the salary for the corresponding vacancy (per employee).
Stage II. Personnel costs during the adaptation period.
This category of costs is due to the remuneration of the newly hired employee. As a rule, this is a trial period (2-3 months). The size of the costs is slightly lower (by 30-40%) from the later expected costs of labor remuneration, which is due to the "entry into office" of the newly hired employee, his social and psychological adaptation.
Stage III. Personnel costs during the period of accumulation of growth potential.
The size of the costs corresponds to the cost of labor. However, at this stage, the professionalism of the employee is insufficient for the employer to receive a surplus product that generates profit.
Stage IV. Personnel costs during the period of achievement of professionalism.
The size of personnel costs at this stage consists not only of labor costs, but also of the costs of various activities related to improving motivation and labor incentives. These activities are financed, as a rule, from a part of the additional profit received as a result of resource savings, innovative approach, etc. However, the level of total costs as a whole at this stage is significantly lower than the profit received.
Stage V. Personnel costs during training, advanced training.
This category of costs has a number of features. First of all, these costs should be commensurate with the expected learning outcomes, for which it is necessary to assess the effectiveness of training programs and the needs and capabilities of the trained contingent. Sometimes it is enough just to create the necessary conditions for self-education and self-training of personnel, and often to develop an integral system of motives in order to reduce the resistance of personnel to innovations and to attract them to training courses.
Stage VI. Personnel costs during the period of knowledge capitalization due to advanced training.
The dimension of costs is comparable to the period of achievement of professionalism (Stage IV). An additional element of incentives is advisable for using in practice the knowledge and skills obtained as a result of training, contributing to the increase in the profits of enterprises. At this stage, the maximum possible profit is obtained from the use of personnel. An increase in the duration of this period is possible due to the implementation of an effective motivational complex by the enterprise, for example, the participation of personnel in the distribution of profits. Non-financial incentives are also possible through the "cafe" system, etc.
Stage VII. Personnel costs during the period of decline and "obsolescence" of professionalism.
The level of costs returns to the period of achievement of professionalism (Stage IV) with the only difference that the previously used system of motivation and incentives ceases to bring positive results, and the level of employee productivity decreases due to the outrunning growth of scientific and technological progress and the aging of accumulated knowledge and skills. The consequence of this is a decrease in the volume of the surplus product produced by the employee, and, accordingly, the profit received by the enterprise.
It should be noted that the stages of the human capital investment cycle in certain sectors of the economy may have their own characteristics. So, for many industrial enterprises, the most capital-intensive will be the costs of personnel training and personnel development.
Investments in human capital can be carried out using internal and external investment sources. TO internal source should include the own resources of economic entities, in particular, the employer, and the employees' own savings. External sources- attracted resources and borrowed funds, public funds.
For effective investment in human capital, it is necessary
to measure and evaluate investment in a person, which is the most problematic and controversial topic in the field of human capital management. Measuring human capital and evaluating investment in it is usually imprecise, but the measurement process itself is extremely important.
3.2 Assessment of the effectiveness of investments in human capital
In a market economy, the problem of making investment decisions is difficult. Rational investors (government, firms, families and individuals) will invest money only if they are confident that the risk from the project will be minimal and in the future there will be a stream of additional net income from capital investments. From an economic point of view, investments will be justified if they have a sufficiently high level of return.
Today, there are various approaches to assessing the effectiveness of investments in human capital.
To determine the economic efficiency of vocational training of personnel in an organization, a control group method or a method is used that is based on comparing the values of specific indicators of the labor activity of employees for the preceding and following periods after training, retraining or advanced training.
There are several models for measuring the effectiveness of investments in personnel in the world. The classical methodology for determining the effectiveness of training was developed in 1975 by Donald Kirpatrick. Its goal is to calculate how the performance indicators of the enterprise have changed due to the training provided, to demonstrate whether investments in personnel training have brought the necessary return. Theoretically, you can calculate the return on investment in training using the following formula (3):
where ROІ(return on investment) - return on investment in training;
∆Д- the increase in income brought by the unit that studied;
Z about- training costs (direct costs of paying a trainer, renting premises, lost profit due to the absence of employees at the workplace).
Investments in the education of an employee form his human capital and after a certain time bring (return) income to its owner (4):
Yn = X0 + RCn, (4)
where Yn- earnings of a person with n years of education;
NS- earnings of a person with zero education;
R- the current rate of return on investment in education;
Cn- the volume of investments during n years of study.
Income is influenced by a great many factors: market conditions, pricing policy, promotions, competitors' actions, personnel reshuffles, etc. One of the ways to separate the influence of these factors on training is the control group method, which forms two control groups of employees. one of which is being trained and the other is not. This approach makes it possible to trace how the results of the work of some workers will differ from others.
The general approach to assessing investment in human capital is methodologically consistent with assessing the effectiveness of investment in other types of assets. However, quantifying human capital is problematic. For example, enrollment in education does not have a significant positive effect on economic growth.
The effectiveness of investments in education has been confirmed by numerous studies and calculations. T. Schultz (1979 Nobel laureate) proved that in the US economy income from human capital is greater than from physical capital. It follows from Schultz's calculations that developing countries need to make investments pr.vs. in health care, education, science. It is more profitable than building new enterprises.
Despite the evidence of the effectiveness of investments in education and professional development, a number of authors believe that human productivity is determined mainly by his natural abilities, and not by the cost of training.
More precisely, natural ability should be viewed as a starting human capital that can be significantly increased through investment in training and education. In doing so, it is necessary to take into account the differences between human potential and human capital. Thus, investments in improving morality can increase a person's potential, his usefulness for society, but does not guarantee a direct increase in productivity and wages.
The well-being and sustainable development of any nation depends on human capital, therefore, a well-thought-out and consistent policy in the field of human resource development and balanced investment in human capital is needed, both at the level of an individual firm and at the state level as a whole.
Conclusion
The concept of human capital has begun to be intensively used by world science, which has appreciated the role of intellectual activity, and has identified the need for and high efficiency of investment in human capital. The concept of human capital plays a central role in modern economic analysis. The use of this concept provides new opportunities for studying such important problems as economic growth, income distribution, the place and role of education in social reproduction, and the content of the labor process.
The amount of human capital is determined by the conditions for its formation and development. Therefore, investments in human capital at the family level are of great importance, where the accumulation of intellectual and psychophysiological abilities of a person takes place, which are the foundation for the further development and continuous improvement of the individual's human capital.
From the interpretation of a person as a fixed capital, the need to develop a quantitative assessment of human capital immediately followed.
A correct assessment of human capital provides an objective assessment of the entire capital of the company, as well as the welfare of the entire society as a whole.
An analysis of the effectiveness of investment in people shows how important it becomes for firms to spend huge amounts of money on the health and education of employees, since in the future more income will be provided for the entire company.
Economic assessments of human capital began to be widely used both at the microeconomic and macroeconomic levels to determine the value of national wealth, losses to society from wars, diseases and natural disasters, in the field of life insurance, the profitability of investments in education, health care, migration, and for many other purposes.
List of used literature
1) Dobrynin A.I., Dyatlov S.A., Tsyrenova. E. D. Human capital in a transitional economy: formation, assessment, efficiency of use. SPb .: Science. 1999, 312 pp.
2) Ilyinsky I.V. Investing in the Future: Education in Innovative Reproduction. SPb .: Publishing house. SPbUEF. 1996.S. 30, 163.
3) Kapelyushnikov R.I. Human capital concept. Criticism of modern bourgeois political economy. - M .: Science. 1977.
4) Lukashevich V.V. Efficiency of investment in human capital // Journal "Polygraphist and Publisher" .- №6. - 2002.
5) McConnell C.R., Bru C.L. Economics: principles, problems and politics. - T.2. - M: Republic, 1992 .-- 400 p.
6) Kendrick J. Total capital of the United States and its formation. - M .: Progress, 1978 .-- 275 p.
7) G. Tuguskin. Evaluation of the effectiveness of investments in the human capital of enterprises. Journal "Personnel Management" No. 3 2009
8) Genkin B.M. Economics and Sociology of Labor), Moscow: NORMA-INFRA-M, 1999. p.4.3. "Indicators of efficiency: productivity and profitability of labor." S. 92-93,103.
9) Gostev A.D. Methods for assessing human capital. M, 2004. p. 53
10) Kiryanov A.V. Types of investments in human capital and their effectiveness [Electronic resource]. // http: //www.cfіn.ru/bandurіn/artіcle/sbrn07/08.shtml
11) Baranchikova N. How to measure the return on investment in education [Electronic resource] // Business Quarter. http://www.ubo.ru/articles/?cat=111&pub=989
12) Bogdanov V. Evaluation of the effectiveness of investments in personnel training. Problems and solutions [Electronic resource] // Personnel management. http://hscenter.kiev.ua/assessment.html
The concept of human capital is considered in a broad and in a narrow sense. In a narrow sense, one of the forms of human capital is education. It was called human because this form becomes part of man, and capital is due to the fact that it is a source of future satisfaction or future earnings, or both. In a broad sense, human capital is formed through investments (long-term investments) in a person in the form of costs for education and training of workers in production, for health care, migration and the search for information on prices and incomes.Human capital is defined as a special type of investment, a set of costs for the development of a person's reproductive potential, improving the quality and improving the functioning of the workforce. The structure of human capital objects usually includes knowledge of a general educational and special nature, skills, and accumulated experience.
L. Turow, who summarized the first studies of human capital, gives the following definition as an initial concept: "Human capital of people is their ability to produce goods and services." Among the abilities L. Turow distinguishes genetically basic economic ability. Economic ability, in his opinion, is not just another productive investment that an individual possesses. Economic capacity affects the performance of all other investments. This implies an important provision on the need for the unity of life as a source of formation and accumulation of human capital. As L. Turow believed, consumption, production and investment are joint products of human activity to maintain life.
In turn, I. Ben-Poret defines that human capital can be regarded as a special fund, the functions of which are the production of labor services in generally accepted units of measurement and which in this capacity is similar to any machine as a representative of material capital.
However, human abilities as a capital good differ significantly from the physical properties of machines. The analogies between human capital and physical capital are interesting and exciting, notes L. Turow, however, human capital cannot be analyzed in the same way as physical capital. F. Machlup proposes to distinguish between primary and improved abilities. Unimproved work must be distinguished from improved work, which has become more productive thanks to investments that increase the physical and mental capacity of a person. These improvements make up human capital.
MM. Cretan identified human capital as a general-concrete form of human life, assimilating the previous forms - consumer and productive, adequate to the epochs of appropriating and productive economy, and carried out as a result of the historical movement of human society towards its current state. Recognition of the universality, historicity and concreteness of human capital allows us to limit the time frame and socio-economic conditions for the existence of this phenomenon.
The relationship of human activity is carried out both in consumption and in production. The source and form of human enrichment in his life is intellectual activity. Human capital, notes L. G. Simkina, is the main element of the modern innovative economic system. Since intellectual activity is a source of increased consumption, its expanded reproduction is a reproduction of the main economic relationship - human capital as a self-enrichment of life. Disclosure of the absolute and relative forms of enrichment of life through the elevation of needs and abilities allows us to determine the historically specific form of human capital. The productive form of human capital acts as an organic unity of two components - direct labor and intellectual activity. These parts can act either as functions of one and the same subject, or as organizational and economic forms of different subjects entering with each other in the exchange of activities.
Investigating socio-economic processes, V.N. Kostyuk defines human capital as the individual ability of a person, which allows him to operate successfully in conditions of uncertainty. In the structure of human capital, it includes rational and intuitive components. Their interaction can allow the owner of human capital to achieve success where high qualifications and professionalism alone are not enough. Additionally, talent is required, which requires a separate reward. For this reason, in a competitive market, the success of the owner of human capital in a certain type of activity can be rewarded significantly higher than wages in the relevant industry.
When studying the mechanisms of functioning of the social and labor sphere, I.G. Korogodin defines human capital as a set of knowledge, skills, abilities, and other human abilities, formed, accumulated and improved as a result of investment in the process of his life, necessary for specific purposeful activities and contributing to the growth of the productive force of labor. He believes that the most important criterion that expresses the essence of capital is its accumulation. It is capital in all cases that is the accumulated funds (monetary, material, informational, etc.), from which people expect to extract income. People increase their abilities as producers and consumers by investing in themselves, and a significant increase in investment in a person changes the structure of his income. Therefore, human capital is not innate, but accumulated human properties. A person cannot be born with ready-made capital. It must be created in the process of life of each individual. And innate properties can only act as a factor contributing to the fruitful formation of human capital. It is necessary to use a functional approach that characterizes the phenomenon not only from the point of view of its internal structure, but also from the point of view of its functional purpose, i.e. intended use. Therefore, firstly, human capital is a set of skills, knowledge, abilities that a person possesses, an accumulated stock of skills, knowledge, abilities that are rationally used by a person in a particular sphere of social reproduction and contribute to the growth of labor productivity and production. Secondly, the rational use of this stock in the form of high-performance activity naturally leads to an increase in the employee's earnings (income). Thirdly, an increase in income stimulates, motivates, motivates (encourages) a person through investments that may relate to health, education, etc., increase, accumulate a new stock of skills and knowledge in order to use it effectively again in the future.
Human capital has specific features:
... in modern conditions, human capital is the main value of society and the main factor of economic growth;
... the formation of human capital requires significant costs from the person himself and the whole society;
... human capital in the form of skills and abilities is a certain stock, i.e. accumulative;
... human capital is physically worn out, economically changes its value and can be amortized;
... human capital differs from physical capital in terms of the degree of liquidity;
... human capital is inseparable from its carrier - a living human person;
... regardless of the sources of formation, which can be state, family, private, etc., the use of human capital and the receipt of income are controlled by the person himself.
Human capital formation
Human capital comes in various forms.The first form. Living capital includes knowledge embodied in a person.
Second form. Inanimate capital is created when knowledge is embodied in physical, material forms.
Third form. Institutional capital consists of living and non-living capital, associated with the production of services that meet the collective needs of society. It includes all governmental and non-governmental institutions that promote the efficient use of living and non-living capital (educational, financial institutions).
Thus, in terms of the formation and use of human capital, it can be distinguished as private, or special, and general. Specialized human capital includes skills and knowledge acquired through specialized training that are of interest only to the organization where they were acquired. Total human capital is knowledge and experience that can be in demand in various spheres of human activity.
Types of human capital
From the point of view of the nature of promoting the economic well-being of society, there are consumer and productive, illiquid (non-alienated) and liquid (alienated) human capital.Consumer capital creates a stream of directly consumed services, and thus contributes to social utility. It can be creative and educational activities. The result of such activities is expressed in the provision of consumer services to a human consumer, which lead to the emergence of new ways to satisfy needs or to increase the efficiency of existing ways to satisfy them. Productive capital creates a flow of services, the consumption of which contributes to social utility. In this case, we mean scientific and educational activities that have direct practical application in production (creation of means of production, technologies, production services and products).
Non-alienated (illiquid) human capital includes: health capital (biophysiological, physical, psychophysiological, mental); cultural and moral capital (ethics, traditions, customs); labor capital (experience, skills, abilities); intellectual capital (creativity, education); organizational and entrepreneurial capital (entrepreneurship, business qualities, innovation, frugality, etc.).
Alienated (liquid) human capital includes: social capital (social and labor relations); brand capital (client capital) - enterprises where the basis of relationships is a "portfolio of contracts with clients"; organizational capital (innovation, protection of commercial rights and intellectual property); structural capital (organizational structure
management and costs of its formation and improvement).
Human capital classification
The classification of types of human capital is carried out on different grounds and for different purposes.The purpose of the classification is to substantiate target programs as the basis for the formation and accumulation of human potential.
The classification of human capital can be represented as the structure of its types by levels and belonging (property) (Fig. 1).
This classification of types of human capital allows us to assess human capital at the level of an individual (micro-level - individual human capital), an individual enterprise or group of enterprises (meso-level - human capital of an organization, firm) and public - the state as a whole (macro level - national human capital). In the structure of individual human capital, health capital, cultural and moral capital, labor, intellectual and organizational and entrepreneurial capital can be distinguished.
Rice. 1. Classification of human capital by levels and belonging (property)
Health capital. Physical strength, endurance, working capacity, an increase in the period of active labor activity are necessary for every person in any field of professional activity. The reduction (decrease) in the capital of health affects the demographic situation, which at present can be assessed as rather difficult. The population of Russia decreased by 6.4 million people. from 148.2 million people as of January 1, 1991, up to 141.8 million people. on January 1, 2010 and continues to decline.
Demographic indicators for the future allow us to assess possible quantitative and structural shifts in health potential in the first quarter of the 21st century. (Table 2).
Table 2 Expected demographic indicators in Russia 
In general, the demographic forecast shows that even in the case of an optimistic scenario of economic development and significant investments in the social sphere, the population decline by 2025 will amount to 7%. Morbidity, disability, premature mortality reduce life expectancy. So, in 2004, the life expectancy of men in Russia was 59 years, which on a national scale was the loss of about 33.4 million man-years of labor, or 1.1 million able-bodied men. The country's economic losses this year amounted to more than 68.7 billion rubles.
The economic damage from morbidity can be determined for each enterprise. According to statistics, there are 67 patients per 100 people who applied to medical institutions per year. The loss of working time due to illness is on average 20 days a year. This means that the employee does not create products and does not participate in ensuring profit. He needs to pay sick leave, bear the cost of replacing him in production.
To stimulate capital growth in health, many firms use bonuses to vacation (medical) workers who have not been sick for a year. The use of a voluntary health insurance system at the expense of the employer is stimulating, taking into account the real savings in working time due to illness in comparison with average or standard levels.
Cultural and moral capital means a set of intellectual abilities, education, abilities, skills, moral qualities, qualification training of an individual, which are used in the process of social and labor activities and at the same time legitimize the possession of status and power.
The cultural characteristics of an individual have a value assessment: social - the qualitative and quantitative characteristics of knowledge, skills, qualifications, moral and ethical qualities, abilities, lifestyle and lifestyle, image, social ties of the individual; economic - a set of costs associated with the development of the cultural characteristics of the individual.
A person's use of his cultural and moral potential in the process of social and labor actions realizes it as a human capital that allows a person to become a subject of labor and occupy a professional niche corresponding to his cultural level, obtain a professional status, access to additional income that exceeds the costs associated with the reproduction of an employee and his family.
Only under certain conditions of active use, cultural values embodied in a person change his professional status, turn into cultural capital. Cultural use values are transformed into cultural capital only when they are embedded in social relations in which they become the source of their owner's power over other participants in social interaction. Therefore, the manifestations of human properties in the form of cultural and moral capital are carried out within the framework of the entire set of social relations of social reproduction through the system of rational, meaningful human action.
Thus, a high culture and human morality are constantly needed in management and production, as well as qualifications and intelligence. Medical deontology, pedagogical and business ethics, the code of honor of the leader and employees, labor and household morality create a healthy moral and psychological climate in teams, increase labor productivity and income. The reputation of the employee and the image of the company are as important to attracting customers and investment as the purely business performance of the business. Business honor, conscience, decency, responsibility are highly valued in civilized business relationships.
Labor capital is embodied in the labor of skilled workers, for whom it depends on the use of modern technologies. The higher the level of mechanization, automation, computerization, the higher the requirements for labor capital. The more difficult the work, the higher the requirements for qualifications, knowledge, experience and responsibility of the employee. As Academician SG Strumilin noted, skilled labor is 2-3 times more productive than simple labor. Qualifications are in themselves an integral part of labor capital and represent the degree of professional suitability of an employee.
At the beginning of the XXI century. the economically active population of Russia was 71 million people, of which 64.7 million people were employed in the economy. or 91.1%, and the unemployed - 6.3 million people. The employment situation of labor resources in the period 2000-2010. remained relatively stable in terms of the supply of workers.
The period from 2011 to 2025 is characterized by an absolute and relative decline in the working-age population. In general, over this period, a decrease in the number of the working-age population is expected by 14.3-15.5 million people. (Table 3).
Table 3
Labor resources for the future (share of population,%) 
From table. 3, it can be seen that the load on the able-bodied population in dynamics will have a wave-like character. The increase in the burden due to the elderly will be compensated by the decrease in the number of the population younger than the able-bodied population. This situation indicates an aging population and the emergence of additional social and economic problems. In addition, there is a significant differentiation of employment in various sectors of the economy, i.e. some sectors have vacancies, others surplus. One of the reasons for the uneven employment of human resources is that the training system in educational institutions does not fully meet the requirements of the economy. Another reason is a significant differentiation in wages, which contributes to the outflow of workers from low-paid sectors of the economy. The third is the reduction and liquidation of production in the agro-industrial complex, light industry, mechanical engineering, etc. Based on this, structural unemployment can persist in Russia for a long time if an effective system of training and retraining of personnel is not created in accordance with the needs of the economy.
Labor capital is formed throughout life as labor skills, skills, experience and, most importantly, education are accumulated. Education is the main way to reproduce skilled workers.
Intellectual capital (lat. Intellectus - thinking ability, perception) is inherent only in a person who not only possesses high thinking abilities, but also subtly feels and perceives the beauty of the external and internal world of a person.
Intelligence is the system of all the cognitive abilities of an individual (sensation, perception, memory, representation, thinking, imagination) used to solve problems and achieve goals.
Intellectual, creative activity is a unique attribute of the human mind, ingenuity, ingenuity. The product of intellectual activity is patented and secured by copyright as the exclusive property of the author, who owns the right to determine the directions and forms of its economic use. Objects of intellectual property are involved in economic circulation as intangible assets of enterprises and increase the income of the company and the owners of these assets.
Talented highly qualified scientists, scientists receive high incomes from intellectual property. In the modern world, people with a large amount of knowledge, information, occupy more advantageous places in labor and social life.
The concept of intellectual capital and the related concept of intellectual property are inseparable from the new economy. These are the most essential components that most identify the new economy. At the stage of technological development, they manifest themselves with such an intensity that makes it possible to speak of a fundamental difference between the new economy and the economy of the industrial industry, which relies on natural resources and the labor of the so-called industrial production personnel.
Thus, intellectual capital implies the sum of the knowledge of the human resources of an organization, an enterprise, a company that ensures their competitiveness. A person accumulates the amount of knowledge through constant education.
Education is given special attention in any modern society. When investing in education, it is necessary to remember that these investments are many times more effective than investments in any other factor of production. For example, in the United States, the growth of the nation's education provides 15% of the increase in national income. Considering that 6-7% of GDP is spent on education, it is clear that investment in education is highly effective.
The projected increase in the number of students in the professional system gives rise to optimistic assessments related to the reproduction of intellectual capital and human potential in general (Table 4).
The growing role of creativity in production is evidenced by the growing share of specialists in industries and enterprises. At the beginning of the XXI century. 11 million specialists with higher education and 10.3 million specialists with an average qualification level worked in the sectors of the national economy.
Table 4
Number of students in Russia (million people) 
The tendency for the dependence of education and human income is approximately the same in all countries. This suggests that at present it is not only profitable to get education, but also it is profitable to invest money in it, since education, in addition to everything, has a direct impact on labor productivity, on the efficiency of production as a whole.
Organizational and entrepreneurial capital. The labor of an entrepreneur and a manager has significant specificity in comparison with other types of labor. Running a business or management requires enterprise and business savvy, innovation, organizational skills and high responsibility, a sense of frugality and economy, the ability to take reasonable risks, energy and willpower.
Entrepreneurial privileges - the possession of vast resources, know-how, commercial secrets - make it possible to transform them into a special type of human capital - organizational and entrepreneurial capital.
Entrepreneurship and management are carried out not only by top managers, but also by middle and line managers. The Japanese experience testifies to the high creative activity of workers in quality circles. In Western firms systems of intrapreneurship - intrafirm entrepreneurship - are widely used. All this testifies to the fact that entrepreneurial abilities are possessed not only by a narrow elite stratum of firm owners, but also by hired managers, specialists, and workers.
The level of entrepreneurial abilities is embodied in the amount of equity and controlled capital. This makes it possible to distinguish small, medium and large businesses. The quality of entrepreneurial abilities is assessed by the efficiency of capital use and the sustainability of progressive business development. The intervals of profitability of capital investments and the rates of economic growth of organizations indicate the real capitalization of the organizational and entrepreneurial abilities of workers.
Organizational and entrepreneurial capital is one of the most promising and important types of human capital. Investments in its development are becoming more and more productive. Not all people are entrepreneurial. The ability to manage, organize, create and run a successful business (business) is a complex ability that psychologists, sociologists, and economists are studying. In developed countries, the share of entrepreneurs in the adult population reaches 7-10%, in Russia - less than 2%.
All these types of human capital have one thing in common. They are all inalienable from man. However, the components of human capital are heterogeneous, i.e. in the structure of this capital, there are those that can be alienated from the human personality.
Social capital can be defined as a set of social relations that minimizes the transaction costs of information across the entire economy. K. Marx believed that capital appropriates the achievements of science free of charge, as well as the division of labor. The division of labor as an element of the social organization of production is an example of social capital, the effect of the use of which is assigned by business entities.
The elements of social organization include social norms, trust, the so-called social networks - a set of public informal associations, interpersonal connections (personal, family, business). Their task is to create conditions for the coordination and cooperation of labor for mutual benefit.
Social capital is associated with the fact that each person is embedded in the system of social relations. It is the capital of communication, cooperation, interaction, mutual trust and mutual assistance, formed in the space of interpersonal (interpersonal) economic and labor relations. Dialogue, openness allows people to learn from each other. This process can be described as social learning. In practice, human intellectual advantages lie in the knowledge that is transmitted by society and acquired in the process of socialization, integration into the system of social relations. This knowledge characterizes social qualifications.
Asocial capital is knowledge that is transferred and developed through relationships between employees, partners, suppliers and customers. It is created through the exchange of knowledge, and this requires the existence of a common organizational environment in which such exchange could be freely and continuously carried out. Such an environment, as noted by M. Armstrong, is more likely to be found in organizations "without borders", where the focus is on horizontal processes, teamwork and target groups, which allows the transfer of knowledge in the process of professional activity. Social capital is human capital capable of realizing its potential.
Social capital has a number of specific features. First, it is always a product of organized interaction, so it has a social, not individual nature. A. Porter notes that economic capital is in the people's bank accounts, human capital is in the heads of people, social capital is inherent in the structure of their relations. To have social capital, a person must be connected with others, and these others are the actual source of his advantage.
Secondly, social capital as an element of the functioning of a socially organized social system cannot be privately owned, i.e. is a public good. Despite the fact that social capital is not owned by an individual firm, it is part of the firm's asset structure and is used by each enterprise to the extent possible.
Thus, the accumulated social capital of Russia is, as V.A. Skvortsov, forms of cooperation, collectivism, collegiality. An example of negative social capital is participation in criminal communities, abuse of an exclusive position, etc. Thus, all those factors that create the possibility of the emergence and development of social ties and ensure their preservation are related to social capital. Thus, the natural resources and technologies used by a firm may not change, and its social capital may grow with the development of external relations and the firm's image.
Brand equity. An alienated type of human capital can be considered customer or brand capital. The activities of a firm with client capital becomes a socio-economic activity, and the firm itself can be called a “meta-enterprise” involving the user in the joint creation and improvement of consumer values, since the buyer acts as the ultimate judge of all products and services created by the company.
Back in 1993, E. Grove formulated one of the necessary conditions for the survival of an imperfect competitor in a highly competitive environment. Leading corporations, and after them the rest, in conditions of imperfect competition, are forced to produce not just specific goods and services, but complex social complexes such as “material products and services + their consumers + their preferences”, which allow increasing demand based on the principle of positive feedback. when an increase in demand increases demand. After a product has conquered a significant portion of the market, there is a strong incentive for the public to keep buying modifications.
An example of effective use of client capital is the Windows operating system, which is installed on most computers. Therefore, programmers tend to develop programs primarily for this system, and then for the less common OS / 2 system. In turn, the abundance of new software applications increases the attractiveness of Windows to computer buyers, which creates an effect of increasing positive feedback. Even a better product cannot break this connection if it comes to market too late. At the same time, this connection can be strengthened by increasing the volume of sales in one way or another.
The general rule for many companies should be the principle: to give (give away for free) a product to the consumer, with the help of which he will use paid services for a long time. In accordance with this principle, selective free distribution of personal computers to the population has already begun in the United States. The desire to increase client capital turns the imperfect competition of individual producers into an innovative and competitive community of producers and consumers, affecting the entire complex of social relations.
The orientation of firms to future profits makes them take part in solving social problems, transforms them from purely economic to socio-economic subjects of market relations. This is also facilitated by the activity of such entities as consumer societies, ethnic minorities, representatives of various subcultures, aimed at obtaining representation on the boards of firms. The existence of the category of client capital is especially evident for insurance companies and other financial enterprises, where the basis of activity is a portfolio of contracts with clients, which determines the scale, structure and dynamics of activities. In Russia, the brand capital of such large corporations as RAO UES of Russia, RAO Gazprom, RKS, NPO Energia and others is still in its infancy.
Structural capital. The competitive environment in which firms operate in today's economy is constantly changing under the influence of innovation. The rapid pace of these changes complicates the conditions under which a firm can succeed. One of these conditions is that the firm has significant structural capital. Structural capital is the ability of a firm to manage its organizational structure, adapting to changing market conditions and at the same time changing it in a direction beneficial to the firm. Such capital is the more, the more significant the freedom of the firm's employees - the carriers of human capital. And the more valuable, the higher the uncertainty and competitiveness of the environment in which the firm operates. Effective structural capital of a firm can arise only where ideas are valued higher than position on the hierarchical ladder.
An example of a firm with large structural capital is Intel, the world leader in microprocessor manufacturing. To cover its costs and increase profits, the company must sell more and more processors with each new series. This situation is typical of any imperfect competitor. Operating costs are rising so rapidly that they threaten to nullify all future profits and turn the corporation into a nonprofit. To prevent this from happening, the new value must grow faster than costs. This makes the firm's existence dependent on rapidly changing consumer preferences. If the market is saturated and sufficiently competitive, then the stronger these preferences, the greater the innovative value added, and the weaker these preferences, the smaller it is. Added value disappears when a product or service loses its attractiveness in the eyes of consumers.
Organizational capital is essentially the systematized and formalized competence of the company plus systems that enhance its creative efficiency, as well as organizational capabilities aimed at creating product and value. Organizational capital includes:
... first, the capital of innovation (protected commercial rights, intellectual property and other intangible assets and values), which ensures the company's ability to renew;
... secondly, the capital of processes (production, sales, after-sales service, etc.), activities, which forms the value of the product.
Organizational capital is knowledge owned by the organization, not its individual employees. It can be considered embedded knowledge (institutionalized knowledge) that can be stored using information technology in accessible and easily expandable databases. Organizational capital can include certain information that is recorded in databases, in instructions and standards for performing procedures, or unwritten knowledge that can be mastered, exchanged, or, as far as possible, codified.
Any process or procedure in an organization is built on the knowledge of individuals. As Davenport and Prusak note, in theory, this embedded knowledge is independent of the people who develop it - and therefore relatively stable - the individual person may disappear, but this will not diminish the stock of knowledge embedded in the company. Organizational capital is created by people. But at the same time, it is owned by the firm and can be developed through knowledge management.
Thus, with the existence of a large number of definitions, forms and types, human capital is the most important component of modern productive capital, which is represented by a rich stock of knowledge, developed abilities inherent in humans, determined by intellectual and creative potential. The main
All people are born with certain abilities and skills. But in order for these abilities to bring a person profit, they need to be developed and improved. An exceptional role in the innovation process is played by the creative abilities of a person, his intellect, ingenuity, and the ability to find unconventional solutions to complex problems. At the same time, solving economic, scientific, artistic, technical and social problems requires extensive knowledge, a well-functioning information system, and creative interaction of innovators. That is, human abilities are the main capital of any enterprise. It is in creative activity in "pure form" that the initial role of human capital and the instrumental, auxiliary value of instruments, equipment, buildings and structures are manifested, i.e. all material working conditions.
The theory of human capital has accumulated sufficient tools for a clear definition of the essence, content, types, methods of assessing and regulating this active part of the capital of any enterprise.
Human capital includes both innate abilities and talents (strength, endurance, speed of reaction, intelligence, etc.), and traits, qualities and properties acquired during a person's life (both in childhood and at a more mature age), as well as or otherwise affecting his productivity and income. Many of them are determined not only by education or a complex of professional knowledge and skills, i.e. labor characteristics, but also character traits, personality traits that depend on the upbringing of a person - in the family, social group (national, religious, etc.), in society. As a result, not only a person's attitude to work is formed, but also his ideas about life, a system of priorities and life values - and all this, in one way or another, is reflected in both productivity and income.
streaming, cumulative stock of human abilities by phases of life;
the expediency of using the stock of abilities, which leads to an increase in labor productivity;
an increase in labor productivity naturally leads to an increase in the employee's earnings;
an increase in income motivates the employee to make additional investments in his human capital, accumulate it cumulatively.
There are a huge number of approaches to research and an abundance of interpretations of the essence of human capital.
G. Becker considered human capital as a set of skills, knowledge and skills of a person.
Human capital, according to T. Schultz, is a person's acquired valuable qualities that can be enhanced by appropriate investments.
L. Turow defined human capital as the ability to produce goods and services. But at the same time, it highlights the economic ability that affects the performance of all other investments.
E. Dolan and J. Lindsay understand human capital as capital in the form of mental abilities obtained through formal training or education, or through practical experience.
B.M. Genkin and B.G. Yudin believe that human capital characterizes the components of human potential that can become a source of income for a household, enterprise and country. Such components can be the physical and creative abilities of a person, his knowledge, skills, activity.
According to A.I. Dobrynina, S.A. Dyatlova, E. D. Tsyrenova, human capital is a stock of health, knowledge, skills, abilities, motivations formed as a result of investments and accumulated by a person, which are expediently used in a particular sphere of social reproduction, contribute to the growth of labor productivity and production, and thereby affect the growth of a given person's income.
Yu.A. Korchagin defines human capital as an intensive productive and social factor, which is not subject to the law of diminishing returns and which is able to accumulate through investments in intellectual property, information equipment of labor and life, education, training, knowledge, innovation and institutional potential, economic freedom, entrepreneurial ability and business climate, science, culture and art, safety and health of the population.
Summarizing the above definitions of human capital, several main approaches can be distinguished: most scientists understand human capital as a set of skills, abilities and abilities of a person, others - only those that have been obtained through formal training, and still others define it through investments and investments in a person that provide accumulation of certain abilities and qualities. Some researchers also include in it the social, psychological, ideological, cultural characteristics of people.
If we try to classify the interpretations of human capital existing in modern economic literature, then they can be divided into predicative, resource, eclectic.
Predicative interpretations of the essence of human capital are formulations that only touch the sphere of human capital, but do not penetrate deeply, do not reveal and do not reflect the real essence of the problem.
Resource interpretations of the essence of human capital are the most common in the economic literature. The meaning of the "resource" definitions of human capital lies in the fact that it is not about capital as actualized resources, but directly about the resources themselves, which are just potential, and not a fact of creative activity.
The eclectic characteristics of the essence and the related content of human capital incorporate various broken positions and interpretations of the phenomenon under consideration. In particular, human capital is here simultaneously defined as an element of national wealth, as a part of the economic resources of an individual, organization and society as a whole, as a process of creating the required goods, etc. ...
Many authors in the definition of human capital include the process of its formation, which, like the accumulation of physical or financial capital, requires the diversion of funds from current consumption in order to obtain additional income in the future, noting that human capital is a form of capital with a number of essential features.
First, human capital is inseparable from the personality of its bearer. Unlike various types of material and financial assets (equipment, real estate, securities), a person in modern society cannot be an object of purchase and sale (this is possible only in a slave economy). As a consequence, the market sets only prices for the “rent” of human capital (in the form of wage rates), while prices for its assets are absent. Therefore, human capital has a minimum degree of liquidity.
Secondly, human capital is characterized by a long investment period. For example, the investment period for education is 12-20 years or more, while for physical capital, as a rule, it is about two years.
Third, compared to the risk of investing in physical capital, the degree of risk of investing in human capital is much higher. This is due to the high costs of organizing and controlling loans due to the freedom of movement of people from one place to another, the length of the loan repayment period, changes in the labor market conditions, as well as the practical absence of risk insurance mechanisms.
Fourthly, in contrast to physical capital, the return on which slowly decreases as it accumulates, the return on investment in human capital, on the contrary, first increases, but only to a certain level, limited by the upper limit of the working age, after which it begins to decline more sharply. However, it should be borne in mind that income from human capital can take both monetary and non-monetary forms. Therefore, the consumer aspects of investing in a person are no less important than the production aspects.
Fifth, the buyer, acquiring the right to use the services of human capital, comes into contact with a free person, whose rights he is obliged to observe, which leads to a large saturation of the labor market with institutional structures.
In the economic literature, the categories "human capital", "labor force", "labor" are often considered as factors of production. Meanwhile, the revealed essence of human capital allows us to say that all these categories are of different levels. Labor force represents a certain human resource, potential readiness for creative activity. Human capital expresses a real readiness for the creative use of a certain combination of human knowledge and abilities. Labor is the materialization of this real readiness into the fact of activity to create this or that good.
So, summing up the different approaches to the study and definition of the category of "human capital", we can give it the following definition:
Human capital is a certain stock of health, knowledge, habits, abilities, motivations, formed or developed as a result of investments and accumulated by people (a person), which is purposefully used in one or another sphere of social production, contributes to the growth of work productivity, and therefore affects growth income (earnings) of its owner.
The theory of human capital began to be dealt with back in the 19th century. Then it became one of the promising directions in the development of economic science. Already from the second half of the twentieth century. it has become a major achievement, primarily in the economics of education and labor. In the economic literature, the concept of human capital is considered in a broad and in a narrow sense. In a narrow sense, "one of the forms of capital is education. It was called human because this form becomes part of a person, and capital is due to the fact that it is a source of future satisfaction or future earnings, or both together." In a broad sense, human capital is formed through investment (long-term investment) in a person in the form of costs for education and training of labor force in production, for health protection, migration and search for information on prices and incomes.
In the "Economic Encyclopedia" human capital is defined as "a special type of investment, the aggregate of costs for the development of human reproductive potential, improving the quality and improving the functioning of the labor force. Human capital objects usually include knowledge of a general educational and special nature, skills, and accumulated experience. For more full and detailed characteristics of human capital use a functional approach.The principle of the functionality of the definition characterizes the phenomenon not only from the point of view of its internal structure, but from the point of view of its functional purpose, final target use.
Therefore, human capital is not just a collection of skills, knowledge, and abilities that a person possesses. First, it is the accumulated stock of skills, knowledge, and abilities. Secondly, it is such a stock of skills, knowledge, abilities that is expediently used by a person in a particular sphere of social reproduction and contributes to the growth of labor productivity and production. Thirdly, the expedient use of this stock in the form of high-performance activity naturally leads to an increase in the employee's earnings (income). And, fourthly, an increase in income stimulates, motivates a person through investments that may relate to health, education, etc., to increase, accumulate a new stock of skills, knowledge and motivations in order to use it effectively again in the future.
Features of human capital:
1. In modern conditions, human capital is the main value of society and the main factor of economic growth;
2. The formation of human capital requires significant costs from the person himself and the whole society;
3. Human capital in the form of skills and abilities is a certain stock, i.e. can be cumulative;
4. Human capital can wear out physically, change its value economically and be depreciated;
5. Human capital differs from physical capital in terms of the degree of liquidity;
6. Human capital is inseparable from its carrier - a living human person;
7. Regardless of the sources of formation, which can be state, family, private, etc., the use of human capital and the receipt of direct income is controlled by the person himself.
In the economic literature, there are several approaches to the classification of types of human capital. Types of human capital can be classified by cost elements, investment in human capital. For example, the following components are distinguished: the capital of education, the capital of health and the capital of culture.
From the point of view of the nature of promoting the economic well-being of society, there is a distinction between consumer and productive human capital. Consumer capital creates a stream of services consumed directly and thus contributes to social utility.
It can be creative and educational activities. The result of such activities is expressed in the provision of consumer services to the consumer, which lead to the emergence of new ways to satisfy needs or to improve the efficiency of existing ways to satisfy them. Productive capital creates a flow of services, the consumption of which contributes to public utility. In this case, we mean scientific and educational activities that have direct practical application in production (creation of means of production, technologies, production services and products).
The next criterion for the classification of types of human capital is the difference between the forms in which it is embodied. Living capital includes knowledge embodied in a person. Inanimate capital is created when knowledge is embodied in physical, material forms. Institutional capital consists of living and non-living capital associated with the production of services that meet the collective needs of society. It includes all governmental and non-governmental institutions that promote the efficient use of two types of capital.
By the form of training employees in the workplace, one can distinguish special human capital and total human capital... Specialized human capital includes skills and knowledge acquired as a result of special training and is of interest only to the firm where they were obtained. Unlike special human capital, general human capital is knowledge that can be in demand in various spheres of human activity.
Thus, with the existence of a large number of definitions and types of "human capital", this concept, like many terms, is a "metaphor, transfers the properties of one phenomenon to another according to a common feature for them." Human capital is the most important component of modern productive capital, which is represented by a rich stock of knowledge, developed abilities inherent in a person, determined by intellectual and creative potential. The main factor for the existence and development of human capital is investment in human capital.