A Stanford economist has published research connecting the concentration of technological power among billionaires to the erosion of democratic institutions in the United States.

Mordecai Kurz's new book, "Private Power and Democracy's Decline," scheduled for publication May 19, argues that current tech moguls represent an extreme version of a historical pattern dating back to industrialization, where technological advances concentrate power among a small number of individuals.

According to Kurz's research, today's billionaires are particularly aggressive in accumulating cultural and technological influence compared to previous eras. He draws parallels between current tech leaders and industrialists from the first Gilded Age in the late 19th century, when figures like Andrew Carnegie and John D. Rockefeller used social Darwinist theories to justify their societal influence.

Kurz contends that technological leaders view themselves as naturally suited to shape society, which he argues creates conflicts with democratic governance. He cites statements from Anthropic CEO Dario Amodei, who has described his company's technology as having mystical potential for transcendent good while also acknowledging it could cause mass unemployment.

The economist's work examines how monopoly power connects to both political and economic inequality, positioning the current concentration of tech power as a threat to democratic institutions. His research suggests this pattern of technological disruption and power concentration has repeated throughout industrial history.