The model of full cycle labour cost commodity form in connection with the human capital formation

The article attempts to formulate a model of full cycle of the labor cost commodity form based on the Marxist theory of capital circulation. In particular, the authors point out the special form of the commodity cycle factor i.e. means of production and labor force. A full cycle labor cost commodity form (the labor factor) is studied in the framework of production, distribution, exchange and consumption process. The education of employees is formed in the sphere of production (work) and it is connected with the professional training in forms of full-time, distance and part-time education. Professional training facilitates a new labor formation, which cost exceeds the cost of an untrained labor force. The growth of employee ’s labor potential leads, as a rule, to rising wages, personal disposable income, labor savings, increasing the scale of consumption, and other factors. The model of full cycle labor cost commodity form allows understanding the sources of human capital formation and realization with a coherent position of production, distribution, exchange and consumption.