THE HUMAN CAPITAL AND ITS SIGNIFICANCE FOR OUR PRESENT

Abstract

The article describes basic economic theories examined through the prism of human capital and its development over the years.The significant role of the human factor for the modern world has been underlined. The educational level of labour markets is analysed through the used data from Eurostat. Major negative trends have been identified, related to the development of human capital in the educational, social and economic sectors. Measures and recommendations have been outlined to improve the knowledge and skills of the active labour force and its positive integration into the labour markets.