Resource Potential of the Knowledge Economy

Abstract

The article analyses the resource potential of the knowledge economy which determines its possible development. The dependence of Russia’s economic development on energy resources, as well as low innovative and technological activity of business, predetermine the search for directions for new sources of development. The paper provides the results of the study of human capital from the standpoint of the emerging knowledge economy in Russia, along with the innovation system and information infrastructure as imperatives of economic development, the essence of which is also presented in the article. Thus, the paper emphasizes that human capital and knowledge in modern realities, along with labour, land and capital, are among the most important economic resources in the emerging knowledge economy. The ability to create and absorb knowledge and use it effectively helps to create innovations, achieve competitive advantages and economic efficiency, and human capital, in turn, determines the effectiveness of economic development. The article also examines the components of human capital – the health capital and the education capital.

Keywords

• RESOURCE POTENTIAL
• KNOWLEDGE ECONOMY
• HUMAN CAPITAL
• EDUCATION CAPITAL
• HEALTH CAPITAL
• INVESTMENT IN HUMAN CAPITAL