HUMAN CAPITAL DEVELOPMENT – ECONOMIC EFFECTS AND MARKET ASPECTS

Baki Huseinov
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Baki Huseinov: Economic Research Institute, Bulgarian Academy of Sciences

Economic Archive, 2017, issue 1 Year 2017, 38-56

Abstract: Human capital is the foundation of modern knowledge for growth, employment and social development. In terms of modern polity, we observe spending of large public resources, providing for both formation of national human capital through the system of government-funded education and long-term preservation of its generated value through the system of health care and social assistance. Seen through the prism of social choice theory, economics and labour market, human capital development is logically defined as a task of paramount importance in any modern political doctrine of social development. The aim of the study is to systematize and critically examine the basic issues related to the process of human capital development in terms of economic growth and labour market.

Keywords: human capital; labour market (search for similar items in EconPapers)
JEL-codes: J24 J64 (search for similar items in EconPapers)
Date: 2017
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