Word: trillion
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Dates: during 1960-1969
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...equivalent of a clock that would gain or lose only 1/300th of a second per year. Then, twice a month for the next half a year, he will match the rate of incoming pulses against a cesium clock, an atomic timer that is accurate to one part in 10 trillion...
...production. That creates jobs and income, which in turn produce more capital and more demand for it. The Atlantic Council of the U.S.-a group of U.S. Government and business leaders-estimates that, in the ten-year span ending in 1976, North America and Western Europe will need $1 trillion to expand pro duction. They will also need the funds to open new and costly programs to assault pollution and slums, exploit the resources of the oceans, and perform other basic tasks to make the civilized world more livable. The needs are great as well in countries that are stepping...
...capital is the product of deferred consumption, the way to make more of it is to increase savings. The U.S. by far leads the world in total savings and capital formation. Economist John W. Kendrick of George Washington University has calculated that Americans have accumulated financial assets of $2.4 trillion, mostly in bonds, stocks, savings accounts, pension funds and life insurance. Last year the U.S. added $129 billion to its stock of capital in the private sector of the economy. The greatest source was not people but businesses, which added $90 billion, primarily through reinvested earnings and depreciation allowances...
...staggering. Alcoa Chairman Frederick J. Close last week ventured a price tag of $100 billion to clean U.S. skies and rivers, rebuild cities, unsnarl traffic, educate the young and re-educate the old. Vice Chairman Simon Ramo of TRW Inc. puts the cost ten times higher, or $1 trillion...
...world's burgeoning population. As deposits of minerals, oil and gas are depleted, the virtually untapped resources lying on and beneath the ocean floor become increasingly attractive to industry. In 2,500,000 sq. mi. of offshore area, the U.S. alone has petroleum reserves estimated at 3.2 trillion...