Timothy Combs provides a lucent footnote on page 319 of A Radically New Humanity: The Function of Haustafel in Ephesians in which he describes the Psalm 82 understanding of the powers and authorities that rule this world.
The powers ruling the present evil age fulfill a God-given role in creation. They were created to be the mediators of God’s rule over this world. According to Jewish thought, the nation of Israel was deemed to be the special inheritance of the God of Israel, but he appointed gods to rule over the nations (Deut 32:8–9; Sir 17:17) (Bruce W. Longenecker, The Triumph of Abraham’s God: The Transformation of Identity in Galatians [Louisville: Abingdon, 1998] 51). They were given a stewardship to rule the nations and order their corporate life in such a way that the nations would fear the Most High God. However, these gods have rebelled against their God-given stewardship so that their rule is characterized by a perversion of their original commission. Instead of being faithful stewards of God’s rule, they have corrupted their cultures and have ordered their nations in such a way that those in positions of authority now exploit the weak and powerless, grasping after power and seeking to take any advantage they can in order to satisfy their own lusts for more power, prestige, possessions, and sensual gratification (Ps 82:1–8; Jub. 15:31). What is important in this tradition is that the cultures and nations under the rule of these powers have come to resemble the powers themselves, along with their selfish and self-destructive behavior. Ephesians reflects this tradition in that the character of the Old Humanity is oriented according to that of its rulers. Just as the powers have incurred the judgment of God because they have become graspers after the cosmos (Eph 6:12) instead of faithful stewards of the rule of God (Longenecker, Triumph 54), so the Old Humanity is characterized by the sins mentioned in the two triads in Eph 4:19 and 5:3. Those in the Old Humanity have been led astray into idolatry (Eph 5:5), having their lives ordered by the evil powers and reflecting their own selfish and self-destructive character.
And then with respect to the effect of the gods who have been given authority over nations, Combs goes on to say,
This vision of the New Humanity is elaborated against the chaotic, destructive, and divisive social patterns created and fostered by the evil powers, who have perverted the created order in such a way that has affected every aspect and level of society. Those in positions of power manipulate, dominate, and exploit those who are weaker in order to increase in social status and honor. Those who have less social leverage are tempted to rebel against such oppressive authority structures, or to develop (self-)destructive strategies for survival. The condition of the Old Humanity is a product and reflection of the character of the evil powers who left their appointed stewardship of creation and plunged the cosmos into disarray, disorder and chaos. (p322-323)
These ideas are what the first century Christians, Jews, and other near east nations had floating around in their heads when they read Psalm 82, although the other ANE understanding of the details could be different. 1 Enoch and other second temple writings fill in details of what a “reflection of the character of the evil powers who left their appointed stewardship of creation and plunged the cosmos into disarray” means.