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Трансформация управления персоналом в Японии: от человеческого ресурса (資源, сигэн) к человеческому капиталу (資本, сихон)
After the 1991 crisis, the Japanese economy entered a period of long-term stagnation, the problems of low fertility and population aging worsened in the social sphere, and the usual growth strategy aimed at increasing productivity reached its limit. In a production-oriented society, the economy was calculated based on the cost of physical capital and the cost of producing goods and services. In a production-oriented society, the national income was calculated on the base of physical capital value and cost of producing goods and services. In the new reality digital resources, IT, artificial intelligence, knowledge and skills are the new important components of the economic system. It means that people who create these new values determine the competitiveness of the business. These circumstances push Japan towards the new concept of personnel management, trying to reconstruct the foundation for further economic growth, business efficiency and international competitiveness development. The key point of the changes is the transition from the concept of human resource (人的資源、jinteki shigen) to human capital (人的資本、jinteki shihon). In this article, the task is to consider the factors pushing Japan to reconsider its ideas about human resources, analyze the Japanese understanding of human capital and consider the possible positive and negative consequences of a paradigm shift. The analysis comes down to the conclusion that the shift in human resource perception towards the asset is not only the result of solving internal socio-economic problems, but the tendency, which also represents inclusive capitalism ideas development.