Impact of human capital on the development of an economy

Abstract

At present, national competitiveness is presented as a means of fighting for a place in the world economic system. The issue of formation, ensuring and increasing the competitiveness of the national economy of the Republic of Kazakhstan is the main issue in the development of the Strategy "Kazakhstan–2050", "Strategy "Kazakhstan–2030", the Strategic Development Plan of the Republic of Kazakhstan until 2025 and other government programs aimed at modernizing the economy of the state [1].The purpose of this article is to investigate the impact of human capital on economic development. Transnationalization of economic relations and globalization of markets intensify competition between countries and large corporations for influence and markets, which in turn leads to new methods and means of competition. The development of human capital makes it possible to introduce innovations, adapt the economy to the conditions of globalization, and achieve high competitiveness. In the conditions of globalization of the world economy the country faces acute problems, such as: general technical and technological backwardness of enterprises, raw material orientation of economy, underdevelopment of production infrastructure, low integration into the world economy, underdevelopment of social infrastructure. Lack of effective communication between science and production, low costs of R&D, design work, etc. To solve these problems it will be necessary to create in Kazakhstan a competitive knowledge-intensive economy, which can become the basis of public welfare. In the future, Kazakhstan needs to create an innovative, post-crisis economy, i.e. knowledge-based economy, which creates opportunities for practical use of human intellectual capital in the development of areas requiring knowledge, provides the transition to the sixth economic paradigm, takes the features of the intellectual economy.