The plague held tremendous significance over wages, labor demand, and land values. The traditional view that the plague had a terrible effect on the economy has been greatly changed. Evidence from England states that the agrarian economy showed remarkable resilience. While the severity of the disease varied from region to region, it appears that most landlords enjoyed revenues near those of pre-plague years. By the early fifteenth century, seigneurial prosperity reached a medieval peak. Increased demand for labor meant greater mobility among peasant and working classes. Wages rose, providing better income. Population losses caused the bubonic plague led to increased productivity by restoring a more efficient balance between labor, land, and capital.
McCay's European Text Book
Word Count: 113