A HARD WAY OF HUMAN CAPITAL INTEGRATION INTO PRODUCTION CHAINS OF THE ECONOMY // BSU bulletin. Economy and Management. - 2021. №3. . - С. 3-7.

A HARD WAY OF HUMAN CAPITAL INTEGRATION INTO PRODUCTION CHAINS OF THE ECONOMY

DOI: 10.18101/2304-4446-2021-3-3-7 UDK: 330.3

The article presents an outlook on the consequences of the economic reform of the 1990s. We see the reasons for its failure in the superficial understanding by the authors of the reform of the essential characteristics of the economy’s market model, and, the subse- quent confounding of key pillars with secondary ones, which led to serious mistakes, first of all, the monstrous stratification of society, four financial and economic crises, and stagna- tion of economic development in last 5 years. We believe that the “soul” of the market economy is competition, not the form of ownership, that the economy and policy are insepa- rable from each other, that the engine of the modern economy is not a “physical force” of natural and labour resources, but a “soft, smart power” of human capital, as well as the insti- tutions that contribute to the maximum fulfilment of human capital. All this is a prerequisite for the transition to the post-industrial economy in the country.

human capital, institutions, education, innovations, scientific and industrial ecosystem