The Expanded Reproduction of Human Capital as a Factor of Sustainable Development

Abstract

Countering the global challenges of habitat destruction and the rise of social conflicts and inequalities necessitate the problem of sustainable development, activating the implementation of the theory of expanded reproduction of human capital. The development of the institution of human capital is logically defined as a matter of paramount importance. In the constantly complexifying environment, the demands on human capital are increasing. The expanded reproduction of human capital is not limited to mere population growth, but includes the development of human potential, its qualities and properties, which are involved in public production, making it more efficient, while human work becomes more productive. Investments in human capital today are not enough to be valuated according to their profitability only. Here’s moreover to a further improving the social and institutional environment, preserving the planet and establishing a sustainable development. Not only is the importance of investments in human capital to be proved, but also the importance of their direction. Enhancing the digital literacy plays a special role as a key factor in a person’s successful adaptation to new realities. This adaptation can be successful if technical and humanitarian knowledge is combined. Armed with such an alloy of knowledge, a person is able to provide a «reasonably managed» socio-economic development. This means that human intelligence will not only recognize problems and challenges, but also offer adequate ways to solve them. The efficiency of expanded reproduction of human capital will be a prerequisite for the sustainable development and a better quality of life.

Keywords

• human capital
• reproduction of human capital
• knowledge
• motivation
• sustainable development
• digital economy