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A New Europe
Many times in History we find that exploration is incredibly valuable economically because it presents a place abundant in resources, supply, and lacking in human population, demand. But what happens if one wakes up and finds that half the population of their already inhabited world has disappeared. You get a society abundant in resources, supply, but severely diminished in its population, demand. Despite pillaging and looting as a result of disgruntled nobles at the beginning of the recovery process, overall European society prospered following the Black Death.
english_economic_growth.pdfGDP Per Capita After
In Figure 15 if you look closely at the GDP per capita (the grey line) You can see it make a large jump during the time period immediately after 1351. This describes the economic output per individual and we can see that after the black death there is a massive increase in the economic output per individual. This provides evidence for the relative economic prosperity that occurred after the Black Death.
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