Purpose. The aim of the article is to clarify the various approaches to the interpretation of the essence and significance of human capital for the development of a modern theoretical basis for human capital development in the economy.
Methodology of research. The theoretical and methodological bases of the study are the fundamental provisions of modern economic theory, research of domestic and foreign scientists. Systemic, process, historical and logical approaches were used to achieve the goal and defined tasks. General scientific methods were used in the process of research: comparison – in determining the differences in the interpretation of the essence of human capital by different scientists; analysis – in determining the quantitative and qualitative parameters of human capital; synthesis – in determining the components of the structure of human capital, which are the objects of management and measurement and the system of indicators, which are the objects of management of its structure; induction and deduction – in determining approaches to the essence of human capital and aspecting the components of the structure of human capital. Also special methods of economic research were used: grouping – in determining aspects of the components of the structure of human capital and their effectiveness, indicators of human capital; tabular and graphic – when systematizing the components of the structure and indicators of human capital, aspectization of human capital; analysis at the macroeconomic level - in determining trends in the concept of human capital.
Findings. As a result of studying of human capital it is established that: human capital is the ability to bring benefits (correlated with the concept of "labour"); human capital is a stock (correlated with the concept of "asset" which is temporarily not used); human capital is a resource (correlated with the concept of "asset" which is used); human capital is a potential (correlated with the concept of "asset" which can be used to a limited extent based on the used set of potential capacity or sources of potential capacity); human capital is a source of income (correlated with the amount of income); human capital is a special form of capital (acts in the form of interaction of needs and abilities of the subject); human capital is a form of realization of economic relations.
Originality. Theoretical provisions on the essence of human capital as an economic category were clarified, in which human capital is the carrier of systemic relations of the reproductive process of society Namely, system-component approach in the interpretation of the "human capital" term was substantiated, which, in contrast to the existing approach, defines the composition and aspects of component structure of human capital, which reveals the internal organization of human capital and the relationship of its constituent components, i.e. those that were obtained biologically, those that were obtained in society, those that formed the carrier of human capital as the main element of the productive forces.
Practical value. The practical significance lies in increased scientific reasoning of theoretical provisions and practical measures to ensure the mechanism of state regulation of the reproduction of human capital in accordance with the transformational changes in social relations and market conditions, as well as globalization processes. The author's proposals can be used by the Ministry of Labour and Social Policy, in developing strategies and concepts of social development of countries, or by the Ministry of Economics, in developing economic and social development projects of Ukraine, educational process of higher education institutions of Ukraine.
Key words: capital, human capital, human potential, theory of human capital, concept of human capital, system approach, structural and functional approach, management approach, components of human capital structure, aspectization.
Technological Change, Human Capital Structure, and Multiple Growth Paths