Evolution of Key Factors and Growth Potential of Human Capital
Olga S. Prichina1, Viktor D. Orekhov2, Yulia V. Evdokimova3, Olesya G. Kukharenko4, Marina V. Kovshova5
1Olga S. Prichina, Russian State Social University, Moscow, Russia.
2Viktor D. Orekhov, International Institute of Management Link, Zhukovsky, Russia.
3Yulia V. Evdokimova, Russian State Social University, Moscow, Russia.
4Olesya G. Kukharenko, Russian State Social University, Moscow, Russia.
5Marina V. Kovshova, Russian State Social University, Moscow, Russia
Manuscript received on 01 May 2019 | Revised Manuscript received on 15 May 2019 | Manuscript published on 30 May 2019 | PP: 2226-2234 | Volume-8 Issue-7, May 2019 | Retrieval Number: G5777058719/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: This study is aimed to identify and generalize the understanding of the influence of various factors on human capital as a driver of society’s socioeconomic development. Structural and quantitative characteristics of this part of the system of human activities are provided in detail. Based on the systematic approach, the authors propose a conceptual model of human capital and the main factors, which influence it. Factors and growth potential of human capital in various periods of history have been identified and studied. The authors propose a dialectic model of evolution for the influence of various factors on human capital growth. The influence of humanity’s expanding knowledge on the growth of gross domestic product and the evolution of human capital has been presented. It has been shown that education has a key impact on human capital growth in accordance with the exponential law of years spent on education. Quantitative data on the evolution of the influence of literacy, education and science on human capital growth and prospects of further growth have been provided. In the course of the study, the authors formed a dynamic conceptual model of human capital growth, with the influence of key factors and potential substantiated on a quantitative basis. The novelty of this study is associated with the integral system-based quantitative consideration of labor with human capital as its structural core. The study results can be used for strategic planning and the formation of long-term human capital development programs.
Keyword: Human Capital, Economic Pace, Labor, Science, Education, Knowledge, GDP, R&D, Innovation.
Scope of the Article: Human Computer Interaction (HCI).