Wednesday, May 20Wednesday, May 20A Stanford economist, Mordecai Kurz, has published a new book titled *Private Power and Democracy’s Decline*, which examines the relationship between monopoly power, economic inequality, and the erosion of democracy. Kurz argues that modern tech oligarchs, such as those leading companies like Anthropic, are aggressively hoarding cultural and technological influence, mirroring patterns seen during the first Gilded Age. He contends that these billionaires view themselves as superior figures destined to shape society, often disregarding democratic institutions. For example, Kurz highlights Anthropic CEO Dario Amodei’s statements about AI’s "mystical potential" and its potential to cause mass unemployment as evidence of this mindset. The book is set to release on 19 May 2026 .
Kurz’s analysis draws parallels between today’s tech monopolies and the industrial monopolies of the late 19th century, where figures like Andrew Carnegie and John D. Rockefeller justified their power through distorted interpretations of social Darwinism. He suggests that the concentration of technological power in the hands of a few is a recurring historical trend that undermines democratic governance .
Streetwise Professor » Economics
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