Investment framework for the formation and reproduction of human capital

Abstract

Purpose: this article is devoted to the analysis of the stages of human capital formation, characterization of reproduction of human capital, the importance of investment in the formation and reproduction of human capital for the both personal and social development. Discussion: the article substantiates the position of priority social and economic approach in understanding economic processes compared to a technocratic approach, since human capital is a powerful driving force of economic development of the country. Results: we analysed the stages of formation and reproduction of human capital. We revealed the necessity of increasing investment in human to capital for several reasons: labor productivity increasing, increasing the quality of goods and services maintaining of economic development at the appropriate level, strengthening the country’s positions at the international level.