The economic impact of the Black Death in Europe during the 14th century was profound and far-reaching. The plague wiped out an estimated one-third of Europe's population, resulting in labor shortages that significantly altered feudal systems. This scarcity of workers empowered surviving peasants to demand higher wages and better working conditions. Consequently, many landlords began transitioning from serfdom to wage labor. Additionally, this demographic shift spurred economic innovation and ultimately helped pave the way for the decline of feudalism. Long-term, the Black Death contributed to social and economic transformations that set the stage for the Renaissance.