World English Dictionary
blue-sky or blue-skies
1.  (modifier) of or denoting theoretical research without regard to any future application of its result: a blue-sky project
vb , -skies, -skying, -skied
2.  to theorize (about something that may not lead to any practical application)
blue-skies or blue-skies

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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