Balance of payments
Balance of payments is the separate and reciprocal summation of the monetary figures for (1) the goods, including money, and services given, and (2) the goods, including money, and services received by an individual or a group of individuals, as frequently those living within national or other geographical boundaries during any particular period of time. Since the monetary figures for both the items received (debit side) and the items given (credit side) are always equal, the two summations (of payments) are likewise always equal, i.e., in balance.
- Percy L. Greaves, Jr. "Mises Made Easier ", 1974. Referenced 2014-06-24.