What impact did the Black Death have on the economy?

History The Black Death Questions



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What impact did the Black Death have on the economy?

The Black Death had a significant impact on the economy. It caused a severe labor shortage as a large portion of the population died, leading to a decrease in agricultural production and a rise in wages for surviving workers. This shift in labor dynamics also resulted in the breakdown of the feudal system and the rise of a more capitalist economy. Additionally, the reduced population led to a decline in demand for goods and services, causing a decline in trade and economic activity. Overall, the Black Death had a profound and long-lasting impact on the economy, reshaping social and economic structures.