Nowadays the concept of development of an economy has changed totally – now development means enlargement of human capabilities, i.e., human development, which depends on the improvement of quality of life of an economy. The growth of Gross National Product (GNP) or rise in personal income alone can not fully address the issue of human development. In this book the focus is on the components of quality of life and also on an appropriate method to quantify the quality of life of an economy. Hence here objective is to identify and illustrate the most important dimensions of human development and to critically judge different attempts that have been made to measure them through different indicators. And an observation is made on how the situation changes when political and civil rights and sustainability are included as major components with other socio- economic components in respect of East Asian and South Asian countries. Hence this book will be helpful for the research scholars in the field of Development Economics and since it is a multi- disciplinary analysis it is also helpful for the students of Social Studies.