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a. Not limited by conventional notions of what is practical or feasible; imaginative or visionary: "Proponents of blue-sky thinking often cite the Wright brothers as validation" (David Colman).
b. Unrealistic or impractical: "[The author] shows what is testable physics, what is philosophy's domain, and what is blue-sky nonsense" (Ann Finkbeiner).
2. or blue-skied (-skīd′) Having a cloudless sky; clear: a blue-sky day.
intr.v. blue-skied, blue-sky·ing, blue-skies
To hold or express unrealistic or impractical views, especially in estimating something.
(modifier) of or denoting theoretical research without regard to any future application of its result: a blue-sky project.
vb, -skies, -skying or -skied
to theorize (about something that may not lead to any practical application)
fanciful; impractical: blue-sky ideas.