The Human Capital Investment In The Modernization Of The Real Economy Sector

Abstract

In modern conditions of reforming the economy, the issue of effective investment in human capital becomes highly relevant. Therefore, despite the complexity of evaluating the effectiveness of such investments, it is difficult to overestimate the benefits of such costs, since they provide an opportunity to prepare highly qualified personnel capable of exercising high-quality production management, to introduce innovative technologies into technological chains, and therefore ensure the competitiveness of domestic products. So that the performance does not raise doubts, and the costs turn into high profits, new approaches are needed that correspond to modern realities. Economic science, by analogy with the natural science knowledge, is currently following the path of integrating various theories, which serves as a new impetus for its development and complication. Investment processes are part of an open, self-developing and self-organizing economic system, characterized by elements of disequilibrium, instability, irreversibility with many non-linear positive and negative feedbacks. What is successfully studied by such science as synergy. At the same time, universal interdisciplinary approaches do not fully offer a solution to complex economic problems, since many factors are imposed that form the specific conditions for their functioning. In this regard, consideration of institutional manifestations is mandatory. We propose to apply a synergetic-institutional approach, which allows to model the processes of investment in human capital and to predict the results of its further use in the modernization of production and/or restructuring of the real sector of the economy, taking into account possible institutional constraints.

New Approach to the Socio-Economic Management Theory

“…The quality of management that ensures the stability of the system (industry, enterprise) to changeable external influences is associated with the ability of individual subsystems and elements to synchronize with each other based on the coordination of decisions made for the largest number of involved layers due to the quality of the available information. Hence, the main task of management is to create conditions that ensure the stability of structures with the manifestation of constant contradictions between the layers of the economic system [3,17].…”

“…From our point of view, one of such approaches will be interdisciplinary management theory, which allows not only to harmonize systemic connections that arise between interacting economic structures, but also to carry out an objective analysis of their possible (alternative) options, as well as the choice of the most optimal ones. Furthermore, understanding the dynamics and mechanism of structural transformations in open systems under the influence of both internal and external factors will allow us to advance in solving many problems of the economy, modern society, and the state [3,12].…”

“…There are a few more points that affect the perception of the results obtained [1][2][3][4][5][6][7]. First, it requires clarification whether the interests of the authorities are in line with the interests of society, and are the results of the reforms a direct consequence of the goals set by the ruling elite for themselves?…”

“…Any changes in the structure and composition of the economic system lead to a change in entropy, and, consequently, to a deepening of instability, which contributes, even with insignificant fluctuations, to its transfer to a new state corresponding to already different values of the control parameters of the changed environment. This transformation takes place as a change from one order to another through a stage of chaos [3]. At the moment the system transitions from one state to another, it is impossible to predict which form of organization will arise and whether it will correspond to a higher level of functioning [2].…”

Evaluation Transaction Costs For The State "Start" Young Professionals In The Workplace

“…Problems of the inefficiency of using a professionally trained subject of labor are studied in many foreign and domestic works. Formation, development of human capital (including young specialists), investments in it were considered by such authors as Endovitsky and Durakova (2019), Iankovets (2018), Iurieva et al (2017), Rudenko et al (2013), Shmanev and Shmaneva (2019), Garavan et al (2001), Vokoun et al (2018, Zakharova and Kratt (2014). Employment problems of graduates in the context of various approaches were studied by such authors as Borisov et al (2019), Kibanov and Dmitrieva (2019), Razumova and Zolotina (2019) and others.…”