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3THEORIES OF HUMAN CAPITAL DEVELOPMENT
Saidkulov Nuriddin Akramkulovich
Gulistan State Pedagogical Institute, Associate Professor of the Department of "Social Sciences and Art Studies". Phone number: +998 97 340 22 99 Orcid: https://orcid.org/0009-0002-7400-7451 E-mail: nuriddinsaidkulov89@gmail.com https://doi.org/10.5281/zenodo.11032528
Abstract. In this article, theories about the evolution, history and development of human capital, which serve to increase a prosperous lifestyle in the history of mankind, are discussed. The opinions of scientists on the development of human capital are discussed. In addition, the article highlights that skills and knowledge are the basis of human capital.
Key words: human, capital, human capital, theories, World Economic Forum, ILO, World Bank and OECD, David and Lorez, Becker.
Annotatsiya. Ushbu maqolada insoniyat tarixida, taraqqiyotida, farovon turmush tarzini oshishiga xizmat qiluvchi inson kapitalini shakllanish evolyutsiyasi, tarixi va rivojlanishiga doir nazariyalarga to'xtalgan. Inson kapitalini rivojlanishiga doir olimlarni fkr-mulohazalari haqida so'z boradi. Bundan tashqari maqolada qobiliyatlar, bilimlar inson kapitalini asosi ekanligi yoritilgan.
Kalit so'zlar: inson, kapital, inson kapitali, nazariyalar, Jahon Iqtisodiy Forumi, XMT, Jahon banki va OECD, Devid va Lorez, Bekker.
Аннотация. В данной статье обсуждаются теории об эволюции, истории и развитии человеческого капитала, которые служат увеличению благополучного образа жизни в истории человечества. Обсуждаются мнения ученых о развитии человеческого капитала. Кроме того, в статье подчеркивается, что навыки и знания являются основой человеческого капитала.
Ключевые слова: человек, капитал, человеческий капитал, теории, Всемирный экономический форум, МОТ, Всемирный банк и ОЭСР, Дэвид и Лорез, Беккер.
Considering economic behavior as one of the types of social and person-oriented behavior, this model is not only with the rational side (strict economic calculation according to the ratio of characteristic costs and benefits), but also with lack of information and personal sub can be understood as insignificant due to 'ective considerations. This allows us to emphasize the diversity of behavior such as production, distribution, exchange and consumption. The economic behavior of different socio-demographic groups of the population shows that the diversity of each person's capabilities reflects his level of participation in economic processes, and "determines his position in economic processes, ensures his participation in the economy and other spheres of public life."
Becker abstracts personality traits such as honesty and punctuality. David and Lorez focused on cognitive abilities as skills that can be developed through formal education and on-the-job training.
A methodology that David and Lorez described as an abstract component of human capital. capabilities have been evaluated by the World Economic Forum (WEF) as one of the skills that
increase a person's ability to work for the future, which is still recognized today. These skills are updated periodically to reflect changes in the labor market. The top ten skills and competencies for 2025 are:
- Analytical thinking and innovation,
-active learning and learning strategies,
- solving complex problems,
-critical thinking and analysis,
- creativity,
- originality and initiative (influence), leadership and social influence (influence)
- technology use, design and programming technology,
-monitoring and control,
- endurance, stress resistance and flexibility,
- solving problems and generating ideas.
In addition to economic spheres, global organizations also widely use the concept of human capital. ILO, World Bank and OECD focus on explaining the concept of skills and knowledge. ILO uses the concept of human capital as a set of competencies, i.e. personal characteristics embodied in the ability to produce creativity, including knowledge, social and economic value. The World Bank also emphasizes that human capital accumulates throughout people's lives and enables them to realize their potential as productive members of society. Defines human capital as an element consisting of knowledge, skills and health. It is argued that extreme poverty can be eradicated through human capital development, which can be achieved by investing in people through food, health, quality education, jobs and skills. The OECD states that human capital contributes to the creation of personal, social and economic well-being, and contributes to economic growth with the knowledge, skills, and qualifications that individuals have.
In general, the concept of human capital refers to skills, abilities, and abilities that are acquired through birth or education. There are two ways in which this can be done. From this point of view, investment in human capital can be evaluated as a long-term return when individuals with innate talents enter jobs/occupations that match their abilities. However, if the innate abilities are limited, the knowledge, skills and competences acquired in the process of education and upbringing also last a long time.
Analyzing the investment in education in the human capital model, all individuals have the same ability and equal opportunity to enter any occupation. However, getting a job required education. Therefore, since education is a time-consuming process, it means several years, which means delaying and reducing the income of the individual for several more years. Therefore, Mincer calculated the income based on the current income of the professions. It also suggested that it is possible to estimate the amount of compensatory income differences caused by assuming a constant flow of income over the working life and differences in education costs.
Although the duration of education was longer, it was found that, as expected, the annual income of individuals who received education was higher. Ehrenberg and Smith, who conducted a similar analysis with Mincer, say that in addition to direct and indirect costs, the learning process is associated with a difficult and frustrating state. They added the resulting psychological costs to their human capital model. They have analyzed the investment and income profile of education by comparing capital investments for human high school and university graduates.
According to Smith, the main reason for differences in abilities between people is the existing types of work in society. Contrary to popular belief, a lack of talent for a particular job early in life causes many problems later in life. Therefore, the differences between individuals and the processes that a person has experienced throughout his life along with education are very important. Becker's views on the impact of education on human capital are very similar to Smith's views on the educational approach. Individuals develop their skills through formal and informal education; at school, at home, in training at the workplace or in workplaces in the labor market. According to Becker, formal education provides structure and specialization. Another way to provide human capital and education beyond formal education is on-the-job training enterprises.
One of the factors that increase a person's total income in working life is the improvement of the employee's qualifications, development of skills and abilities. Training centers are necessary for this. An employee's on-the-job training is an investment in human capital that will pay off in the future, even if it costs the employee.
On-the-job training is a general purpose investment. the skills acquired by a person in education, special trainings related to the workplace not only give a person the skills that can be used in business, but also provide spiritual nourishment and increase the general outlook. This will increase the productivity of employees of all enterprises in general purpose training. For example; A worker trained to operate a used machine in textile mills can find employment in all textile mills. On the other hand, workplace-specific training will increase the economic potential of a particular enterprise.
The formal education component of educational investment is a process that begins with pre-school education and ends with higher education. Education is the most important investment in human capital. This is directly related to other types of investments. In general, investment decisions in education, health care, job search and immigration, etc., constantly complement and influence each other. For example, as the level of education increases, it can be predicted that the level of health and literacy will also increase. On the other hand, an individual's health status can influence their decision to pursue education, immigration, and employment. Health is a factor that directly affects a person's well-being and standard of living. The risk of illness and death leads to the weakening of human abilities and behavior. At the same time, a person's income can increase or decrease due to health, working hours, and the variety of jobs available. According to Fletcher and Frisvold, people with higher education are healthier than people with less education. There is a significant relationship between education and mortality, heart disease, diabetes, days of unemployment, smoking and alcohol consumption.
Health care and education always go hand in hand, Becker said. It increases motivation in consumption, family planning, music, literature, and sports, and it improves health in many ways. Likewise, a healthy diet provides strength and endurance to increase a person's productivity.
Becker continued in his theory, while acknowledging the effect of working conditions (employee health checks, lunches, etc.) on productivity, on the other hand, he argued that activities with high rates of accidents and deaths escape advocates that its employees should be given the opportunity to work safely. Therefore, companies invest in health and education, and through this, the manager increases the labor productivity and personal productivity of his employees with the help of these investments.
Conditions for access to medical services offer quality choices in addition to increasing life expectancy, healthy aging, and life expectancy. Investments in health create a foundation for
human capital formation and increase labor productivity and contribute to efficiency. Economically, investments in health care primarily serve to provide skilled employment, create new skills, and provide sustainable economic activity, such as creating new technologies and innovations through activities. This, in turn, affects the areas that provide development. But there are not always good conditions in activities, enterprises and organizations. From this point of view, individuals will have to adapt to changing social conditions. In this case, it is very important for employees to participate in educational activities, mental health, volunteering in social events, and technology. Health is an area that all countries should invest in, not just individuals or businesses, but from a social welfare point of view. In addition, global cooperation is necessary for highly developed countries or regions. Because infectious diseases can spread geographically throughout the world. In such a situation, from being a regional problem to becoming a global problem, it leads to the loss of productivity and income from the point of view of the national economy. Due to the allocation of funds spent on the health of the population, health will be ensured and will bring several times the profit from the allocated investment. The benefits of the received investments will last for a long time.
List of used literature.
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2. Marshall А. Principles of Economics. - London, 1983.
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