HUMAN CAPITAL DEVELOPMENT UNDER GLOBAL INSTABILITY

Abstract

In the conditions of globalization, increasing interaction and interdependence of countries lead to their mutual vulnerability, aggravate old problems and give rise to new threats, risks, contradictions and crises, thus generating global instability. These processes exert impact on the world economy, international relations and human development. Therefore, it is relevant to study the impact of these changes on human development under global instability. The research objective of this article is to analyse the influence of global processes, threats and risks on the development of human capital. The novelty of the research results consists in disclosing the influence of global threats and risks on human capital development, with focus on environmental problems, pandemics, economic crises, increasing unevenness of socio-economic development of countries and regions of the world. The research relies on the methods of system analysis, scientific generalizations, cross-country comparisons, and economic and statistical analysis. The article reveals that the development of human society is affected by the global environmental problem associated with the change of the natural environment produced by human economic activity, which leads to the disruption of the structure and functioning of natural systems, the depletion of resources, and pollution of territories, all of these negatively affecting human development. The Covid-19 pandemic was a significant challenge for human society worldwide, which had a notable impact on economic and social development, caused a reduction in production and employment, a drop in incomes, and affected the state of health, thus determining a decline of the global Human Development Index — for the first time in 30 years of its existence. Economic crises, which are accompanied by economic recession, rising unemployment and prices, falling incomes and well-being, have a significant impact on human development, which reveals itself in the negative HDI changes in most countries. The uneven socio-economic development of countries and regions of the world has a negative impact on human development. It is manifested in the uneven distribution of resources and wealth, unequal access to education and profession, as well as in significant gaps in such important basic rights and opportunities as the right to life, freedom of choice, employment, etc. The solution of existing global problems and ensuring stability and development at the international level are to be attained within the framework of the global governance system, the core of which represent the UN and its institutions. This makes vital the development and reformation of global institutions to regulate international political, economic and social relations in accordance with the new conditions of human society development. The study of these issues is necessary to identify new global trends in the development of an effective development policy at the national and global level.

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