One of the serious misconceptions of our times is the belief that economic development leads to an automatic reduction in poverty and inequality. The empirical facts of many developing countries show that such a belief does not square with the facts. Poverty in both absolute and relative terms is one of the most serious inter-temporal issues in the present century. Poverty and income-inequalities have many deleterious effects on human development that emphasises individual capability expansion, economic freedom, opportunity and choice. This book brings together articles from leading economists and sociologists, exploring contemporary issues on poverty and inequality and the effects they have on individuals and society as a whole. B.N. Ghosh, PhD (India), M.CIM (UK), GFCR (Harvard), is currently a Professor of Economics, Eastern Mediterranean University, North Cyprus. A specialist in Human resource Development and Political Economy, he has published extensively in refereed journals. His books are published, among others, by Arnold Heinemann, Longman, Macmillan, Routledge, Nova Science Publications of New York, Ashgate Publishing and Wisdom House of England. He has undertaken short-term consultancies for various organizations including the University Grants Commission and the United Nations Development Programme. Professor Ghosh is the Director (Hon.) of the Centre for the Study of Human Development in Leeds (England), and the Editor of International Journal of Human Development, Leeds (England). Professor Ghosh's research has ranged over a number of areas including political economy, human resource development, economics, sociology, and anthropology. Some of his recent publications include: Global Financial Crises and Reforms (ed.), (Routledge, London and New York, 2001); Privatisation: The ASEAN Connection (Nova Science Publications, New York, 2000); Gandhian Political Economy (Ashgate Publishing, London, 2006); Contemporary Issues in Development Economics (Routledge, London and New York); Economic Theories: Past and Present (Wisdom House, England, 2001); Contemporary Issues in Modern Macroeconomic Management ((Wisdom House, England, 2005) and Globalization and the Third World (co-ed.), (Macmillan, London and New York. 2006). Professor Ghosh is the recipient of the Emerald Award (UK) for 2005. Chopra, Parvesh K. PhD (England), PhD (India), M. Phil. (Economics), PG D. Statistics, M.A (Economics), B.A. (Honours), is currently a Senior Research Economist