Pandemic and geopolitical rethinking of approaches to innovation, investment, human capital

The principles of the economic development of the global economy before the series of world covid restrictions were the unity of the world economic space, the priority of human and business rights for unhindered movement and economic activity, the stability of global and national legislation. The economic impacts of the COVID-19 have demonstrated the willingness of the global community to abandon these principles, which led to the isolation of national economies and an increase in the importance of the geographical and national origin of the counterparty. At the same time, the demand of subjects of economic relations for the ability of business to function in non-standard situations, up to the situation of a “perfect storm”, has grown. At the same time, the importance of the intensive use of technology and human capital has increased not only as possible elements of the company’s competitive strategy, but also as conditions for the presence of a subject of economic relations in the market. The increase in geopolitical instability in the context of the continued risks of countries imposing restrictions on movement in 2022 has become a factor that enhances the importance of national technologies and human capital as a condition for the economic security of the national economy. An increase in the volatility of energy and other markets can become a trigger for rethinking the basics of the investment process, taking into account the importance of the partner company’s nationality and the politicization of the investment process, especially in the areas of creating innovations and reproducing human capital. The article collected and analyzed the most significant facts that require a rethinking of approaches to innovation, investment and human capital. Based on the results of the analysis, a range of solutions was proposed regarding the use of the results of such a rethinking in terms of the development of the innovation and investment climate in Russia and the Russian system of human capital reproduction.