Thaddeus Cummins’ paper, “The Economic Value of Public Goods,” has been published in Applied Math. Cummins draws on economic indicators from 216 quarters of U.S. business between 1952 and 2008. He offers a model that monetizes state services, which are not produced through entrepreneurial activity (infrastructure, security, education, and environment), but are pre-conditions for market-driven economic growth. Cummins is a managing researcher for EconomicGPS, an organization that provides custom-tailored GDP performance scorecards to public and private organizations.
For more information, see link to paper.