During the last decade of the last century, the concept of capital in scientific literature has been significantly expanded. Namely, for decades, the belief that the category of capital includes only visible resources has been modified in terms of extending its comprehensiveness to intangible resources, such as human and social capital. Human capital encompasses knowledge, skills, competencies and characteristics embodied in the individual, which enable the creation of personal, social and economic well-being, while social capital represents the capital of cooperation, interaction, mutual trust and help. When it comes to education, the ability to acquire the necessary knowledge, skills and competences is crucial for the economic and social progress of individual countries. Unlike physical capital that is completely tangible, human and social capital are intangible. Recent approaches, as components of human capital, in addition to education and the level of health status of the population, outline the characteristics of people and societies that have an impact on the effects of work, including factors of ability, motivation and culture, etc. Some experts extend the content of human capital to individual characteristics of people such as creativity, innovation, motivation, attitudes (about life, business, etc.), diligence, responsibility, perseverance, self-initiative, communication success, problem solving, critical thinking, self-study, flexibility and adaptability. The paper considers the contribution of education as one of the basic and absolutely indisputable component of human capital to the development of social capital. It has come to the conclusion that countries with high education of the population tend to become richer and to invest more and more resources in the development of their own processing system. Therefore, in current business conditions in the process of creating human capital, the importance of activities focused on lifelong education and professional development is especially important. Both types of capital are developing in close interdependence. The increase in human capital corresponds significantly to the development of social capital. On the contrary, social capital represents an essential premise of increasing the efficiency of human capital. Moreover, there is not a small number of authors who regard certain attributes of social capital as human capital components. Considering the contribution of education as a component of human capital to the development of social capital, it can be concluded that education does so because it helps young people to recognize their duties as members of society, promote civil and social engagement of people and influence human behavior. Citizens with higher education have a high degree of civic and social engagement. The educated people are much more involved in their communities and take practical steps to improve the welfare of communities in which they live contributing, among other things, to the development of social capital.
The effects of financial, human, and social capital on the perception of financial well-being