Economic Consequences of the Black Death

The Black Death, which struck in the 14th century, caused the death of millions in Europe, drastically reducing the labor force. This scarcity of workers led to higher wages for those who survived, as labor became more valuable. Agriculture shifted as landlords had to offer better terms to retain workers. Many peasants sought better opportunities, fueling urban growth and the rise of a merchant class. Trade was initially disrupted but eventually rebounded, leading to economic adaptations. Overall, the Black Death transformed the economy, paving the way for changes that contributed to the end of feudalism and the rise of modern economic systems.