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<strong>Secondary market</strong> – An entity that purchases education loans from eligible lenders. The secondary market obtains funds from investors or public bonds and uses those funds to purchase existing education loans from lenders.
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<strong>Cure</strong> – Reinstatement of a loan' s guarantee upon completion of a prescribed series of loan collection activities. Also defined as the process by which the loan' s guarantee is reinstated.
Pigou, Arthur Cecil, 1877-1959 (B3)<br />The Cambridge economist who was a fellow of King's College from 1902 to 1959 and professor of economics, in succession to MARSHALL, from 1908 to 1943. In Wealth and Welfare (1912), which was expanded into The Economics of Welfare (1920), he built upon Marshallian foundations a study of the size and distribution of national income and the case for government intervention. His other major works included Industrial Fluctuations (1927), Public Finance (1928) and Employ- ment and Equilibrium (1941). Although he was initially critical of KEYNES'S GENERAL THEORY, by 1949 he was prepared to concede that it was an original contribution to economic analysis.<br /> <br /><em>Reference</em><br />Casson, M. (1983) Economics of Unemployment, Oxford: Martin Robertson. O'Brien, D.P. and Presley, J.R. (eds) (1981)<br />Pioneers of Modern Economics in Britain, ch. 4, London: Macmillan.
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integrated pollution control (Q2)<br />A system of pollution licences covering a wide range of industries intended to control the overall levels of air and water pollution in a particular area.<br /><em>See also:</em> Environmental Protection Agency; pollution control
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