The Intellectual Component of Labor Potential as a Factor of Sustainable Development of the Agricultural Sector

Abstract

In the article, the proposition is substantiated that the current development of the agricultural sector is possible on condition of harmonization of environmental, social and economic factors based on the principles of consistency, balance and social justice. The paper examines the impact of the intellectual component of labor potential on economic growth in the agricultural sector. The study of the main types of production functions for macroeconomic analysis is conducted. The advantages of using the Cobb-Douglas production function in determining the levers of agricultural production growth in the context of sustainable development are substantiated. The present-day priority of activities intellectualization in the agricultural sector is proved. It is proposed to particularly focus on the use of intellectual assets of human potential for agricultural production intensification. The accomplished modeling of the agricultural sector sustainable development gives grounds for an optimistic forecast as to increasing the resource potential of agricultural production due to a growth in the quantitative and qualitative indicators of labor potential.