Abstract
Abstract Qualitative changes in social life affect accumulating young people’s knowledge as a basis of human capital. The article aims to explore the role of education in human capital development due to ongoing changes in modern society. The study is based on the theory of human capital explaining an economic approach to human behaviour, which highlights effects of investing in human capital on the country’s socioeconomic development. Schultz’s theoretical framework foregrounds the role of education in realising human capital and the relevant research methods such as content analysis and textual narrative synthesis. The main findings embrace opinions of philosophers from different epochs, ideas on knowledge of society in the XXI century, and the role of education described as the basis of the young population ready for socioeconomic development. The results prove the hypothesis relative to exploring the impact of education and training on the youth’s human capital.