Evolution of the Human Capital Doctrine

The human capital theory is one of the most significant scientific and practical achievements in the history of the economic thought in the twentieth century. The presented work shows an attempt to retrace and critically estimate the evolution of this doctrine from its genesis in the studies of the classics and postclassics of the political economy to its incorporation into the characteristic present-day economy of knowledge. The analysis covers the development of the traditional neoclassical human capital theory and its impact on the related concepts of other dominant schools of the modern economics.