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How Did The Black Death Affect The Economy

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Moraveck 1 Devin Moraveck Mr. Mack World Civilization 1 May 1st, 2024 The Black Death and Its Effects on the Market in 1347-1351 The Black Death, also known as the Bubonic Plague, was one of the most deadly pandemics in human history. It spread across Europe between 1347 and 1351. The impact of the Black Death was felt across all of society, including the market. The Black Death had a massive effect on The Market and the daily life of those involved during 1347-1351. The Black Death led to a major population decrease in Europe and all over the world, resulting in labor shortages. This shortage of labor led to an increase in wages for workers, which in turn led to an increase in the cost of goods and services. With fewer people producing goods and providing services, the cost of production increased, which led to higher prices for consumers. Many people were highly debating on traveling, which disrupted trade and goods were very scarce, and expensive. This increase in prices was felt throughout all of society, from the poorest to the richest people out there. The Black Death led to a major decrease in people involved in agriculture. The World Health Organization (2021) confirms this argument, stating that the Black Death led to a decline in the number of people engaged in agriculture, which was the primary source of income for Moraveck 2 most people at the …show more content…

It led to labor shortages, higher wages, higher prices, a decline in food production, a shift in power relations, and a decline in the demand for jewelry, and clothing. These effects were felt not just in Europe, but all over society, and the market took a very long time to fully bounce back. The impact of the Black Death on the market provides a unique insight into how pandemics can shape societies and economies. The Black Death shows how a pandemic can drastically shift the daily life of the

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