In the context of the modern development of socio-economic systems, human capabilities play a crucial role in achieving various goals. Human research as a living carrier of knowledge, creative abilities and forces with which he changes the environment has not only been, but is, and will be increasingly relevant in world scientific thought, since the modern world requires a deep understanding of the role of personality in various processes. The modernization taking place in various industries and spheres of life clearly demonstrates the need for investments in the «quality» of human resources, which act as an intangible asset. This leads to the realization that human capital has become one of the main resources determining the success of both individual organizations and society as a whole. Its importance sometimes surpasses the value of natural resources and tangible assets. Today, human capital is a key determinant of competitiveness, sustainable economic growth, and overall efficiency of any enterprise. Based on this, the study of human capabilities becomes extremely important, since they can become the basis for sustainable development in a rapidly changing world, which determines the relevance of the topic under consideration.

In modern socio-cultural conditions, significant transformations are observed in the socio-political and economic structure of states. These changes have justified the need to develop theories and models that would effectively describe and analyze the functioning of such systems. One of the most relevant areas of this scientific activity has become the study of human capital, which is a special economic category that occupies a significant place in the general economic discourse. The ability to explain and illustrate many economic processes through the prism of human interests and actions has made this theory an important tool for analysis. It can be used to adequately describe such aspects as the composition of productive forces, the formation and distribution of income, as well as the mechanisms of economic growth and the creation of national wealth [8].

In this regard, it becomes clear that human capital not only serves as an important aspect for understanding modern economic phenomena, but also provides effective tools for developing policies aimed at improving the quality of life, increasing labor productivity and, ultimately, the sustainable development of society in a rapidly changing reality. By paying attention to the development of human capital, States can ensure higher growth rates and improve the well-being of their citizens.

This concept is based on a broader category, capital, whose origins can be traced back to the works of the ancient Greek philosopher Aristotle. For the first time, he raised the issues of proportional exchange of benefits, thereby initiating the study of the qualitative assessment of the workforce. Aristotle argued that the higher the value of the product produced, the more labor and skill were invested in its creation [11].

Representatives of the classical school of economics developed a deep understanding of the concept of capital, considering it not only as a simple accumulation of wealth or monetary assets. They also included the labor skills and abilities of the workers in this definition. Followers of this theory argued that the quality of the workforce, known as human capital, is one of the key factors contributing to the increase in national wealth. For example, the famous economist William Petty emphasized the importance of preserving labor skills, arguing that «it is better to burn the product of the labor of one thousand people than to allow these people to remain idle, which will lead to the loss of their skills» [10]. Thus, he attached great importance to the active use of human potential.

Adam Smith, another prominent representative of classical economic theory, defined capital as the main means of contributing to economic progress. He emphasized that capital gains can be made «without transferring ownership from one owner to another» [6]. In his understanding, capital was not limited only to physical assets or monetary funds, it also included useful skills and abilities of members of society. Smith viewed human capital as the capitalized value of these acquired and useful abilities, emphasizing that people’s skills and knowledge can significantly affect productivity and the overall sustainability of an economy.

Thus, the classical school of economics offered a broader view of capital, including not only tangible but also intangible components, which made its idea especially relevant in modern society, where knowledge and skills are becoming the most important resources.

The foundations for the formation of the theory of human capital were laid back in the works of the classics of political economy, who began to explore human abilities to work, as well as their role in the process of formation, reproduction and effective use. A. Smith in his 1776 scientific work «An Inquiry into the Nature and Causes of the Wealth of Nations» emphasized that the increase in labor productivity is significantly the degree depends on the professional development of workers, not just on the improvement of machines or tools.

The concept of human capital, which later became a separate direction in the scientific field, was first formulated by American economists G. Becker and T. Schultz. These scientists have highlighted that the level of well-being of people depends not only on physical capital, land and technology, but also on the skills they acquire. Within the framework of their theory, human capital is interpreted as a set of all useful personality traits, including knowledge, skills, motivation, as well as the ability to learn and adapt. These qualities can be improved through appropriate investments in education and training [2].

In addition, an important aspect of the theory of human capital is the recognition of its dynamic nature, which consists in the fact that not only basic knowledge and skills affect productivity, but also the ability to constantly learn and develop in changing conditions. Investing in human capital, therefore, not only enriches individuals, but also contributes to the growth of the economy as a whole, which makes this concept relevant for various fields of activity and public policy.

Despite the significant influence of T. Schultz on the concept of human capital, it was Gary Becker, a prominent economist and winner of the Nobel Prize in Economics in 1992, who became a key figure in this area. As a representative of the Chicago School, he significantly expanded and deepened the understanding of human capital by introducing this term into scientific discourse. In his works, Becker relied on the hypothesis of rational behavior of individuals, considering human actions as meaningful and purposeful. He derived such important concepts as uniqueness, price, and opportunity costs, which allowed him to create a model of human capital that became the basis for numerous further studies [2].

Becker emphasized the importance of investments in education and vocational training, considering them as forms of investment that bring future benefits to both individuals and society as a whole. This understanding of human capital as an active element of the economic system has opened up new horizons for the analysis of socio-economic processes and contributed to profound changes in approaches to education, vocational training and work.

The issue of human capital is also being actively explored by domestic economists, who emphasize its importance for sustainable growth. Thus, O.A. Grishnova defined this phenomenon as a set of productive opportunities, personal qualities and motivations of individuals, which are formed due to investments in education and development. This capital is personally owned by individuals and is used in their professional activities, contributing to an increase in labor productivity and, ultimately, positively affecting the income levels of both individual workers and the entire country.

L.T. Shevchuk considered human capital as capital resources that can be used to use human potential in the production sector. He focused on the opportunities for individuals to participate in the value creation process, including innovation and creativity. In his interpretation, «human capital» is understood as the integration of knowledge, skills and qualifications of employees who are able to generate income by using them to produce goods and provide services.

Based on this, it becomes clear that the importance of human capital in the country’s economy is manifested not only through an increase in the income of its owners, but also through a contribution to the overall improvement of the quality of life and socio-economic development of the nation. Domestic research in this area highlights the importance of investments in education and training for both individual and collective well-being.

It should be emphasized that the issue of the composition of human capital continues to be discussed in the modern scientific community, and no consensus has yet been formed on this issue. The main approaches to this topic can be divided into two different positions.

The first one goes back to the ideas of classical political economy and defines human capital as something broader than just a set of knowledge and skills of an individual. Its proponents also consider a person as a physical unit, which in itself is a part of capital. In this context, an individual is not just a carrier of intellectual resources, but a full-fledged element of capital capable of generating income. For example, the famous economist I. Fischer pointed out that capital includes «a useful object intended for material use» [3]. This approach emphasizes that the skills and abilities of an individual are considered only as an additional resource, and not as the main category of capital.

On the other hand, there is a second position that is recognized by most modern researchers. She argues that a person as a living being cannot be considered as capital in the traditional sense. The emphasis is placed on the fact that an individual is a carrier of unique personal qualities, social identity and cultural context, which cannot be easily quantified and classified as capital. Thus, human capital is defined more as a potential that can be realized through education, experience and social interaction, rather than as the object itself included in the system.

Discussions around the concept and content of human capital emphasize the complexity and versatility of this term. This once again justifies the need for further research in order to better understand its role and impact on economic processes in the modern world.

In the modern economy, the competitiveness of systems is increasingly determined not so much by the availability of natural resources as by intellectual assets, knowledge and innovations, which form the basis of economic progress. That is why interest in the development of human capital is actively growing today both among foreign scientists and in Russia.

1. Turow emphasized the importance of the concept of human capital for modern economic analysis, pointing to its central place in understanding the dynamics of the economy. In turn, M. Bowman called the discovery of human capital a «revolution of economic thought,» which underlines the importance of this phenomenon for theory and practice.

The most complete essence of the term «human capital» reflects the definition proposed by S. By Dyatlov. He described this definition as «a certain stock of health, knowledge, skills, abilities, and motivations formed as a result of investments and accumulated by a person, which are expediently used in one or another sphere of social reproduction, contribute to the growth of labor productivity and production, and thereby affect the growth of income (earnings of a given person)» [11].

Considering these aspects, it can be argued that in the modern world, investments in human capital are becoming more important than investments in material resources. This requires the Government and the private sector to develop effective strategies aimed at improving educational infrastructure, supporting research and innovation, and creating conditions for continuous professional development of citizens. Investing in human resources becomes vital, which ultimately leads to the sustainable development and prosperity of the economic system.

One of the most urgent tasks in the framework of the theory of human capital today is to determine the order of its formation and methods of estimating its value.

A detailed study of the concept of human capital and its structure allows for a deeper analysis of key issues related to economic growth, people’s motivation for economic activity, and the development of knowledge and innovation within the economy. This analysis opens up new horizons for understanding the interrelationships between learning, development, and economic outcomes.

The process of human capital reproduction can be divided into two significant stages.

The first is education – a complex process that takes place at several levels: individual, family, educational, and public, and includes investments in health, education, cultural development, and upbringing, as well as the creation of human productive abilities. Such investments are the foundation for the successful development of skills and knowledge necessary for competitiveness in the labor market.

The second stage is the use of human capital. It covers the process of integrating formed capital into society, which allows people to use their skills and knowledge to obtain both tangible and intangible benefits and services. It includes mechanisms to increase their effectiveness by stimulating innovation, labor and entrepreneurial activity. An important aspect here is motivation, which plays a key role in activating labor resources and contributing to achieving economic development [7].

A deeper understanding of the processes of formation and use of this phenomenon can provide valuable information for further research in this area and help optimize strategies aimed at developing the potential of individuals in different countries.

The formation of human capital, being a key process, is carried out primarily through the education and upbringing of the younger generation. These areas represent the base on which the future potential of society is built.

There are different views on the structure of human capital in economics, and there is also no consensus among researchers. For example, G. Becker emphasized the importance of many factors, such as upbringing, health, vocational training, as well as migration, the availability of economically relevant information and motivation for active economic activity. In his opinion, all these elements are interconnected and contribute to the overall development of human capital.

On the other hand, L. Turow added to this list such aspects as respect for political and social stability, which is also important for the formation of an active and effective citizen. V. Martsinkevich focused on the personal qualities of an individual that affect his creative potential. These include activity, sociability, responsibility, honesty, and integrity, which together create a stable foundation for the realization of personal and social goals [5].

Despite the diversity of points of view, researchers agree that it is the educational aspect that plays a central role in the formation of human capital. At the same time, it is not limited to the transfer of knowledge and includes the development of skills and abilities, the ability to adapt to new conditions and update their knowledge. In modern conditions, when the world is rapidly changing, this is what becomes an integral part of a successful life and professional activity.

In a certain sense, the formation of human capital occurs through investments aimed at developing individual abilities and skills of a person. Economists K. McConnell and S. Brew identified several key areas of such investments, each of which plays a significant role in improving the quality of human resources.

Central to this is the cost of education, not only basic and specialized, but also on-the-job training. Modern companies are increasingly investing in training programs for their employees, which helps not only to improve their skills, but also to adapt working groups to rapidly changing market conditions.

Another important factor contributing to the formation of human capital is the health of the population. Investments in healthcare cover disease prevention, access to medical services, healthy nutrition, and improved housing conditions. A high-quality standard of living directly affects labor productivity, which makes these expenses strategically important.

Finally, mobility costs play a significant role in the labor migration process. These investments help employees move from regions with low levels of economic development and, as a result, productivity to more developed places where they can apply their skills and knowledge more effectively. This not only contributes to a personal increase in income, but also generally leads to an improvement in the economic situation in accepting new resources [9].

Thus, investments in human capital cover a wide range of areas, each of which contributes to the formation of a competent and effective workforce.

At the current stage of transformations in Russia’s economic model, the formation and use of human capital is becoming critically important, as it directly affects key elements of economic growth. Today, the method of production and transfer of knowledge, competencies, and, in fact, the person himself — his intellectual potential — is coming to the fore. Human capital already determines the pace of economic development and scientific and technological progress in all countries.

The growing interest of modern society in the educational system, which is the basis of its reproduction, is being recorded. In this regard, education and vocational training act as complex processes that can become a powerful engine shaping the future of economic and social progress at all levels. Education paves the way for innovation and the introduction of new technologies, which ultimately contributes to increased competitiveness in the labor market.

Such an orientation towards the development of human capital is explained by the fact that it is a person who possesses not only knowledge, but also the ability to apply it in non-standard situations, who becomes the most important value of modern society. The ability to find new solutions and adopt innovative approaches is becoming critically important in a rapidly changing world and growing economic challenges.

The level of education and professional training is a key aspect that shapes the human capital of a society. The education system acts as an active element and solves many important tasks:

– being the main mechanism for accumulating human capital, it leads to an increase in citizens’ incomes and expands their economic opportunities – highly qualified specialists become the driving force for economic growth, which creates favorable conditions for the sustainable development of the whole country;

– promotes the dissemination of cultural values, spirituality, and democratic principles – this not only enriches everyone’s personal life, but also creates a more diverse and open society where everyone has the opportunity to freely choose and express themselves.;

– plays an important role in mitigating social and economic inequality – by providing access to quality education, the system allows previously underprotected groups to integrate into the labor market, which leads to a more equitable distribution of resources and opportunities;

– expands employment opportunities and promotes productivity growth – retraining and advanced training programs help employees adapt to changes caused by structural transformations and scientific and technological progress.

– accumulation of potentially unemployed youth in the education system;

– makes a significant contribution to improving the environmental situation — education on sustainable development and environmental protection at all levels helps to form a new generation of responsible citizens who are aware of the importance of protecting nature and rational use of resources [4].

Based on this, the education system not only increases the level of human capital, but also serves as the basis for socio-economic progress, ensuring sustainable development and harmony in society.

Since the recognition and popularization of the theory of human capital, education has been perceived as an important investment in the development of personal and social resources. Today, it is seen as a key element that generates not only direct economic benefits for individuals, but also contributes to overall economic growth. Studies by both Russian and foreign scientists demonstrate that the impact of education on an increase in gross domestic product (GDP) can reach almost 30%. This realization encourages the leadership of many countries to allocate significant financial resources for the development of the learning process and the formation of human capital.

The sphere of professional education accumulates significant intellectual resources, providing personnel training for various sectors of the economy. According to a number of studies, in 2025, more than 8 million students are enrolled in 1,115 higher educational institutions in Russia. These figures strongly contrast with the number of similar educational institutions in most developed countries, where the figures are often much lower. Such a large number of institutions indicates a high level of interest in higher education and opens up great opportunities for future specialists.

However, in modern conditions, higher education often does not help to eliminate deformations in the labor market. One of the main problems remains a significant shortage of qualified workers and specialists in working professions, especially among graduates of vocational schools. Despite this, active work continues in this area to improve the situation. A striking example of government support is the implementation of the Professionalism project, which was focused on the rapid training of workers who meet the current requirements of industries and areas of the economy. The project provides training for students in specialties that are in demand on the labor market, which helps to reduce the gap between education and the needs of employers.

We must not forget that in addition to general and vocational education, an important aspect of the formation and development of human capital is continuous training and professional development of employees in the workplace. Companies that actively invest in training their employees gain competitive advantages and create more effective teams. Based on this, it becomes clear that an effective personnel training system requires an integrated approach that includes both specialized education and practical development of new skills in a professional environment [1].

To summarize, it should be emphasized that the education and training system plays a key role in the formation and strengthening of human capital. It, in turn, not only serves as a source of economic opportunities, but also determines the effectiveness of the functioning of the economy at all its levels. Moreover, government initiatives in these areas contribute to the creation of sustainable social and political conditions, as well as provide citizens with the necessary social guarantees, which is an important aspect for stimulating economic growth.

In the context of increasing external pressure and geopolitical instability, the issues of education and training of professionals should remain among the priorities within the framework of Russia’s development strategy. Effective state regulation of the educational process and purposeful work on the development of qualified personnel can significantly accelerate the pace of economic growth in the country and help overcome the crisis. The development of human capital is becoming an important factor that contributes not only to economic prosperity, but also to social stability in society.

A systematic approach to the development of education and training of specialists, based on the current needs of the labor market and global trends, will contribute to the creation of a competitive economy. It is important that all stakeholders, from government to business, actively participate in this transformation, because this is the only way to achieve qualitative changes and set goals.