What Happened to Europe's Economy After the Black Death

Patrick Wyman, a historian and expert on medieval economics, discusses the transformative impact of the Black Death on Europe's economy. He highlights how the catastrophic labor shortages led to soaring wages and shifts in worker power. Wyman elaborates on the resulting agricultural advancements and trade dynamics, including the emergence of cash-rich societies and the early stages of capitalism. He draws parallels between this historical event and modern economic challenges, illustrating how crises can catalyze significant change in labor markets.