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11INTERNATIONAL JOURNAL OF THEORETICAL AND PRACTICAL RESEARCH
DOI https://dx.doi.org/10.5281/zenodo.5752255 Iqtisodiy fanlar /Economic Sciences/Экономические науки
International journal of theoretical and practical research
Scientific Journal
Year: 2021 Issue: 2 Volume: 1 Published: 01.12.2021
http://alferganus.uz
Citation.
Abdurakhmanov, K.K. (2021). Human capital as one of the major factors of labor potential of the enterprise. SJ
International journal of theoretical and practical research, 1 (2),13-18.
Doi. https://dx.doi.org/10.5281/zenodo.5751875
DOI 10.5281/zenocfo. 5751S7 5
QR-Article
Abdurakhmanov Kalandar Khadjaevich
Academician, Doctor of Economics,
professor,
Rector of Tashkent Branch of Russian Economic University after G. V.
Plekhanov, Republic of Uzbekistan
HUMAN CAPITAL AS ONE OF THE MAJOR FACTORS OF LABOR POTENTIAL OF THE ENTERPRISE
Abstract: At present society represents a complex system, one of which major components is human capital characterized by the system of indicators reflecting processes of reproduction ofpopulation, their possibilities (abilities) in satisfaction of needs in these conditions of life activity, taking into account state of health, safety and state of environment. Considerable funds are annually expended for reproduction of human capital that, in turn, leads to increase in productivity of social labor and growth of living standard of the population.
Keywords: capital in economy, financial capital, intellectual capital, labor potential of enterprise, sustainable development of economy, theory of human capital, investment into human capital, increase in standard of well-being of the population.
Абдурахманов Каландар Хаджаевич
Академик, доктор экономических наук, профессор, ректор Ташкентского филиала Российского Экономический университет им. Г.В. Плеханова,
Республика Узбекистан
ЧЕЛОВЕЧЕСКИЙ КАПИТАЛ КАК ОДИН ИЗ ВАЖНЕЙШИХ ФАКТОРОВ ТРУДОВОГО ПОТЕНЦИАЛА ПРЕДПРИЯТИЯ
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DOI https://dx.doi.org/10.5281/zenodo.5752255
Аннотация: В настоящее время общество представляет собой сложную систему, одним из важнейших компонентов которой является человеческий капитал, характеризующийся системой показателей, отражающих процессы воспроизводства населения, его возможности (способности) в удовлетворении потребностей в данных условиях жизнедеятельности с учетом состояния здоровья, безопасности и состояния окружающей среды. Ежегодно на воспроизводство человеческого капитала расходуются значительные средства, что, в свою очередь, приводит к повышению производительности общественного труда и росту уровня жизни населения.
Ключевые слова: капитал в экономике, финансовый капитал, интеллектуальный капитал, трудовой потенциал предприятия, устойчивое развитие экономики, теория человеческого капитала, инвестиции в человеческий капитал, повышение уровня благосостояния населения.
The capital (from Latin "capitalis" - "main", "dominating", "basic") is a set of the property used for gaining profit. As an economic category on the one handit is a potential (accumulated wealth) which gives a chance to collect revenue regularly, on the other hand it is a system of economic relations between interested parties.
Capital in economy is resources which can be used in production of goods or rendering services. In classical economy one of three factors is production; other two ones are land and labor.
There are four evolutionary forms of the capital which can be seen in Figure 1.
Figure 1: Evolutionary forms of the capital
Industrial capital is capital put in business; t is a working source of income in the form of means of production: cars, equipment, buildings, constructions, land, inventory of raw materials, semifinished products and finished products, used for production of goods and services. Industrial capital arises in at the time of market economy formation. It is closely connected with national market.
Financial capital is a set of conditions when monetary form of the capital allows gaining profit without formal exchange of money for the goods. Growth of heavy industry with highly concentrated large-scale production, banking, and trade is inherent to it. Modern variant of financial capital is a venture capital which is directed to new
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DOI https://dx.doi.org/10.5281/zenodo.5752255 projects, which have high risk of bankruptcy, but also potential profit is considerably above the average level.
Financial and industrial capital is characteristic for modern epoch of postindustrial society which is based on generality of electronic and information technologies in all spheres.
Term "intellectual capital" appeared in the beginning of 1990-s and designated the sum of all knowledge of the enterprise personnel which represents competitive advantage in the market. Thus, initially under knowledge there understood patents, administrative skills, technologies, information on clients and suppliers and experience as well. Later this definition was specified as follows: "It is a knowledge the employees possess; it is an electronic network allowing the company to react to the change of market situation faster than competitors; it is a partnership of company and client, strengthening links between them and involving the consumer again". [201, 2011]
Introduction of the term "intellectual capital" is an original reflection of increased role of knowledge of a person in creating cost of capital of modern enterprise. Knowledge is capital not for those to whom it belongs, b for those who use it for gaining profit, i.e. capitalizes.
The proprietor of intellectual capital is not the one who personally uses investments (expenses for education), but the one who appropriates a surplus value created by the subject of knowledge. Con-sequently, knowledge acts as a capital in hands of the businessman, instead of the worker. For the worker knowledge is an integral element of labor force. [Logachyov, 2006]
Human capital is theabilities and qualities accu-mulated by a person and generated as a result of investments which lead to the growth of labor pro-ductivity and incomes at expedient use.
Human capital is subdivided in three, i.e :
• General human capital - knowledge, abilities, skills which can be realized on various workplaces, in various organizations.
• Specific human capital - knowledge, abilities, skills which can be used only on a certain workplace, only in concrete firm.
• Human intellectual capital - capital embodied in people in the form of their education, qualification, professional knowledge, experience.
Cost of national human capital of the world countries was estimated by experts of the World Bank. For these calculations there used estimations, making human capital on expenses of the state, families, entrepreneurs and different funds. They allowed defining current annual expenses of the society for reproduction of the human capital.
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DOI https://dx.doi.org/10.5281/zenodo.5752255 Cost of the world human capital made 365 billion. US dollars or 66.0% of world riches. Among the world countries the highest cost of human capital is in the USA: it made 95 billion. US dollar or 77.0 % of national wealth, 26.0 % of the world result of cost of the human capital.
The Republic of Uzbekistan having entered upon the path of building modern state with developed market economy planned radical restructuring of education system as one of strategic targets. At the same time, it has been realized that only people having modern knowledge, intellectual potential and advanced technologies, can achieve set strategic development goals. The policy on reforming education became a key link of conducted reforms and society renovation, precondition of sustainable development of economy, integration of the country into the world community.
Figure 2: Structure of human capital [Kibanov A. Ya, 2013]
On September 20 this year, Cornell University in the USA, Insead Business School in France and the World Intellectual Property Organization published the Global Innovation Index ranking. Uzbekistan ranked 86th out of 132 countries in the Global Innovation Index. Previously, our country was ranked 93 in 2020 and 122 in 2015.
The Global Innovation Index, published on September 20, 2021, is entitled "Driving Innovation in the COVID-19 Crisis". This is a report that assesses the impact of the COVID-19 crisis on global innovation performance.
The Global Innovation Index is a study developed in collaboration with Cornell University in the United States, France's Insead Business School and the World Intellectual Property Organization to assess the level of innovation development in countries.
The Global Innovation Index consists of 81 indicators that assesses the innovative development of countries with different levels of
economic
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DOI https://dx.doi.org/10.5281/zenodo.5752255 development. This index is calculated based on the average of the two sub-indices. The first sub-index includes available resources and conditions for the implementation of innovations (Innovation Input) - the level of development of institutions, human capital and research, infrastructure, internal market and business. The second sub-index includes the practical results of innovation (Innovation Input) - the development of technology and the knowledge economy, as well as the results of creative activity.
In the sub-index of available resources and conditions for the introduction of innovations in our country, the results of last year rose by 6 points and took 75th place, and in the sub-index of practical results of the implementation of innovations - we moved up 18 positions and took 100th place, respectively.
According to the rating indicators, Uzbekistan has the following strong indicators in the world: "Number of graduates in science and engineering" - 7th place, "Ease of doing business" - 8th place, "Labor productivity" - 8th place, "Gross capital formation" - 7th place, "Government spending on education" - 28th place.
In 2021, Uzbekistan ranked 10th among lower middle-income countries. Among the countries of this group, Uzbekistan is a leader in the indicators of institutions, human capital and science, infrastructure and development of the domestic market.
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DOI https://dx.doi.org/10.5281/zenodo.5752255
11. Logachyov, B. Z. E. (2006). Intellectual capital. The Economist, (9):36-41. from the position of labor theory of value.
12. Mitrofanova, E., Mitrofanova, A., & Tarasenko, V. (2020, March). Immature digital expertise of the educational institution's managerial staff as HR risk to education development. In 13th International Scientific and Practical Conference-Artificial Intelligence Anthropogenic Nature Vs. Social Origin (pp. 756-765). Springer, Cham.
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