Abstract:
Using data from surveys conducted in 2004 and 2006, we examine the work and earnings of drayage drivers at the Ports of Los Angeles and Long Beach. Though possessing relatively low levels of education (most have a high school diploma or less), these drivers average approximately $35,000 in earnings net of truck expenses, working, on average, 11.2 hours of work per day. Owner operators experience increased net earnings once their trucks are fully paid for, leading them to buy older, more polluting trucks. This negative externality is currently being addressed by both Ports enacting new regulations regarding truck drayage in Southern California.
You have a wonderful opportunity to hear Professor Edward C. Prescott discuss the global economy. Professor Prescott was awarded the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 2004 for his joint contributions with Dr. Finn Kydland. Their work started the transformation of macroeconomics from large sets of complicated equations into models that have foundations in the choice theory of microeconomics.
Professor Prescott’s presentation is titled “Global Outlook: An Optimistic View.” He will speak at Viterbo University Monday, Sept. 29 at 7:30 p.m. in the Fine Arts Center Lobby. The event is free and open to the public.
Viterbo has a press release about the event at http://www.viterbo.edu/news.aspx?id=39694
