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Future wireless cellular systems, i.e., high-speed downlink packet access (HSDPA) and 1x EVolution Data Optimized Revision A (1xEV-DO Rev A), promise to revolutionize the mobile users' wireless experience by offering high data rates that are beyond the capabilities of third-generation (3G) systems. These systems, however, require proficient radio resource management schemes to provide the high data rates that they promise. A key component of radio-resource management is packet scheduling, which is responsible for distributing the shared radio resources among the mobile users. In this paper, we propose a novel centralized downlink packet scheduler (CDPS) scheme to be implemented at the base stations of future wireless cellular systems. CDPS is designed to balance between the requirements of connections (e.g., throughput, fairness, etc.) and the requirements of service providers (e.g., revenues). CDPS aims at maximizing the system capacity while ensuring a fair distribution of the wireless resources. To achieve its objective, CDPS employs a flexible utility function that competently incorporates the channel quality conditions of the mobile users, as well as a unique fairness measure. In addition, CDPS utilizes an opportunity cost function that allows service providers to control its degree of fairness and hence control the system capacity. We analytically show that CDPS can be configured to reduce to the maximum carrier-to-interference ratio (Max CIR) and proportional fairness (PF) schemes, hence providing service providers the flexibility to choose between different scheduling schemes. Simulation results and comparisons with existing schemes show the effectiveness and strengths of the CDPS scheme.