HUMAN CAPITAL DEVELOPMENT IN THE CONTEXT OF EUROPEAN INTEGRATION CHANGES AND ECONOMIC CHALLENGES

Introduction. The article deals with issues related to the essential content of understanding human capital through the evolutionary prism of economic interpretations. The study of the main provisions of human capital formation as a process and productive capital is covered in the doctrines of classical and neoclassical economic schools, representatives of Marxism, marginalism, modern trends, and theories. This publication studies the principles of human capital development in the context of changes in European integration and various economic challenges. Materials and methods. The author generalizes the concept of «human capital» as an evolutionary process that, as the internal and external environment changes, is expressed by the effectiveness of the inherited knowledge and skills of individual workers because of a synergistic relationship with natural, technical, social, economic, resource and innovative circumstances. The critical issues of human capital are stages of production processes, organization of exchange and consumer functions of market interaction, continuity of investment reproduction, and socio-economic cycle. Results. The global architecture of accessibility of the public economy of the XXI century through international and European integration development, based on Ukraine's support through humanitarian aid and financing for developing intellectual forms of capital in a difficult period, is outlined. Prospects. Analyzing the existing theoretical achievements, we can draw several key conclusions: 1. The dynamic nature of human capital: The concept of human capital constantly evolves, as it depends on changes in both the internal and external environment. Its value is determined by knowledge and skills and by synergistic interaction with natural, technical, social, economic, resource, and innovation factors. Human capital includes skills and mastery, health and cultural level of the nation, accumulated experience in various fields, socio-economic relations, and environmentalization of the production process. 2) Reproduction of human capital: Since human capital is part of the social product, the issue of its reproduction becomes essential. 3. Factors influencing the development of human capital: potential of the business environment: the level of development of small and medium-sized businesses, availability of resources for entrepreneurship; investment opportunities: the availability of a favourable investment climate and opportunities for raising capital; synergy of interests of business entities: joint work of the state, business and other stakeholders for the development of human capital; effectiveness of stimulating and motivating factors: the use of practical tools to encourage people to develop and self-development.