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Human Capital Components: Traditional and Alternative Approaches


  • Dmytro Melnychuk

    () (M.V. Ptukha Institute for Demography and Social Studies of National Academy of Sciences of Ukraine)


Despite more than half-century history of the 'human capital' concept a lot of questions about the internal structure of human capital still remain open. The article covers the issue of specifying the list of human capital components. The study has emphasized that depending on the nature and set of components this or that researcher, deliberately or unconsciously, refers to the human capital elements, the very profile of theoretical conclusions and practical recommendations is changing. None of the scientists has ever doubted that the human capital is formed as a result of the investment. However, according to the author, if different authors associate the analyzed economic asset with absolutely different components, quite natural questions arise either on the required amounts of the investments, the results of comparing these amounts with income earned as the capital factor or sources and subjects of relevant investment steps and, hence, the methodology of the human capital differentiation range of problems according to economic system levels. In other words, the article presents the author's vision of the problem that is not as simple as assumed.

Suggested Citation

  • Dmytro Melnychuk, 2014. "Human Capital Components: Traditional and Alternative Approaches," Accounting and Finance, Institute of Accounting and Finance, issue 1, pages 144-148, March.
  • Handle: RePEc:iaf:journl:y:2014:i:1:p:144-148

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    More about this item


    capital; theory; human capital; human capital components; knowledge; motivation; health;

    JEL classification:

    • M50 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics - - - General
    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity


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