The event that marked the end of the feudal system in Europe following the Black Death was the Rise of the Merchant Class. The devastating plague significantly reduced the population, leading to labor shortages and empowering surviving workers. This demographic shift allowed peasants to demand better wages and conditions, effectively eroding the traditional feudal hierarchy. Over time, a merchant class emerged, contributing to the growth of towns and the early stages of capitalism. The social and economic changes initiated by the Black Death played a critical role in transitioning Europe towards a more modern economy.