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POLLUTION RIGHTS MARKET: A market-based system for the exchange of permits or "rights" to release pollution residuals into the environment. These pollution permits would be bought and sold in an organized market not unlike the stock market. Prices would vary according to the forces of supply and demand, allowing individual participants to buy and sell based on their particular circumstances. The total number of permits would be based on the amount of permissible pollution residuals that can be safely released into the environment during a given period of time. These permits could be given away or auction off to potential polluters.

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BALANCE OF PAYMENTS

A comprehensive set of accounts that tracks the flow of currency and other monetary assets coming in to and going out of a nation. These payments are used for international trade, foreign investments, and other financial activities. The balance of payments is divided into two accounts -- current account (which includes payments for imports, exports, services, and transfers) and capital account (which includes payments for physical and financial assets). A deficit in one account is matched by a surplus in the other account. The balance of trade is only one part of the overall balance of payments set of accounts.

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APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a microwave over that won't burn your popcorn or a T-shirt commemorating the first day of winter. Be on the lookout for the happiest person in the room.
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The average length of a "business lunch" is about 36 minutes.
"The man who can drive himself further once the effort gets painful is the man who will win. "

-- Roger Bannister, runner

IER
International Economic Review
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