SOCIAL INVESTMENT AS AN OBJECTIVE PROCESS OF IMPROVING THE STANDARD OF LIVING

Abstract

The article investigates the development of social investment in Russia. The theoretical approaches to the nature of the basic categories are analyzed. Features of realization of the social functions of the state are associated with large-scale investment, which give the investor no clear commercial return, but create the conditions for rapid economic growth. Social investment, like wealth, contribute to the formation of the national product, since the goal of any economy is the satisfaction of human needs through the material, spiritual or other benefits. Investment in human capital is a conscious investment in industries and sectors that improve the quality parameters of a person, primarily their workforce (level of education, development of intelligence, creativity, physical and mental health, systems of motivation, values, etc.). The idea of human capital and investment in human capital as a factor of socio-economic development began to attract attention with Russia's transition to a market economy. Human capital is seen as a long-term economic resource. The rating of the competitiveness of human capital in different countries is given. The conclusion about the need for a systemic investment approach that does not need to separate policies and processes of development of investment in education, science and innovation system and investment in education, culture, health, personal security and infrastructure. The application of the concepts of “human capital”, “social capital”, “ intellectual capital” allows understanding the role of social institutions, not only finding out social attitudes, but also conducting economic analysis of the impact of social factor on the market economy. A generally accepted indicator of the level of human capital development is the index of human capital development. It covers 122 countries in the world economy. It uses a combination of data from publicly available sources and information from international organizations and experts in the field of development. The authors consider the practical aspects of public social investment, the economic meaning of state regulation of social investment and performing the state's core functions. The issues of the importance of social programs of business are raised. A key feature is social investment as activities of investor relations subjects aimed at obtaining certain beneficial effects for society. Analysis of the processes of scientific and technological development shows that human capital, cycles of growth and development are the main factors generating waves of innovation development and the cyclical development of the world economy and society. Moreover, the level and quality of national human capital determines the upper limit in the development of science and economy. Without raising the quality of national human capital to the level required by the knowledge economy, quality and ethics in the workplace, shaping an innovative economy and especially the knowledge economy is impossible. Social innovation is a new term that is closely related to concepts such as public-private partnerships, corporate social responsibility, social entrepreneurship and philanthropy. The article deals with problems of social innovations.