EMERGENCE OF HUMAN CAPITAL THEORY. MODERN CONCEPTS OF HUMAN CAPITAL

Abstract

Human capital is a term that has gained prominence in recent years. Organizations view human resources as important capital and emphasize their selection, management, and development, because their success depends on their qualifications, skills, and abilities. Today, human capital can be defined as the sum of knowledge, skills, competencies, talent, opportunities, abilities, strengths, good health, accumulated experience, and motivation that a given person possesses. But to arrive at this generalized definition, let's try to trace the formation of human capital theory through the centuries.