EVALUATION OF HUMAN RECOURSES IN THE CONTEXT OF KNOWLEDGE ECONOMY

Abstract

Knowledge undoubtedly makes essential impact to the processes of development. While creating andadapting knowledge new public and economic phenomena are being formed. There are a lot of discussionsabout coherence between human recourses and knowledge economy. Scientists, politicians, public figuresalmost unanimously acknowledge that in nowadays the speed of economic growth, social welfare of thepeople, sustainable economic development is more and more dependent, and will be even more dependent infuture from the creation of a new knowledge and its practical appliance in the management of processes.
Human capital plays an important role in economic growth theory, because economic and socialdevelopment of the state is closely connected with investments into human capital. Formerly economicefficiency was measured only according to the criteria of physical capital. Scientists – economists of lattercentury pay great attention to the human capital, its importance and necessity to the modern state andeconomic growth. The scientists propose that the welfare of a state and an individual is impossible withoutinvestments into human being. It is even possible to define education as one of the crucial factors ofeconomic growth.
Human capital is a broad concept, which covers plenty of components. But the most importantcomponent is description of workforce quality. Any action, that increases the productivity of labour market,may be considered as the investment into human capital.
Whereas great recourses (in the long run) are targeted to the resolution of these questions, in respectof all the parties concerned, the results of such evaluation would enable to balance the policy implemented inthe areas of education and rise of qualification. Therefore it is very important to evaluate the efficiency ofthese investments. But while analyzing, by what means investments into education are evaluated, it isnecessary to take into account the social aspects.

DOI: http://dx.doi.org/10.5755/j01.em.17.1.2284