Authored by Peter C. Earle via The Daily Economy,
Not long ago, the notion of trillions belonged either to the furthest cosmic reaches of the universe or the submicroscopic world of atoms. These numbers describe galaxies in the observable universe, roughly two trillion, or, at the opposite extreme, the picosecond - one trillionth of a second - is used to measure molecular motion and chemical reactions. Until recently, magnitudes denominated in trillions were almost entirely confined to the theoretical hinterlands of astronomy, physics, and schoolyard exaggeration.
Today, trillion-dollar quantities have become commonplace in economic and financial life. At least 12 American companies boast trillion-dollar market capitalizations, with Apple approaching $5 trillion. BlackRock now manages more than $15 trillion in assets. The largest technology firms,
