ИСТИНА

The paper highlights different approaches to the human capital in terms of its key characteristics. Traditional approach considers human capital primarily as a set of skills and knowledge that can generate income. In a later study, human capital was divided into a starter (people’s health, standard of living of the family) and acquired (knowledge and skills) capital. The decline in the share of primitive manual labor, increased level of mechanization and technical evolution of production, the development of information technologies led to the inclusion of social components in to the human capital. The discussion devoted to the elements of human capital should be considered as the focal point of governmental decision-making process on regional investment strategy and regional economic development.