In the black plague, most of the wealth was durable physical assets like land, tools, farmhouses, ect.
In modern economies, wealth usually buys services and consumables. Less cheap labor will be a big hit to these costs. To make things worse, the workers will have to financially support a large aging population with a shrinking young demographic.
In the black plague, most of the wealth was durable physical assets like land, tools, farmhouses, ect.
In modern economies, wealth usually buys services and consumables. Less cheap labor will be a big hit to these costs. To make things worse, the workers will have to financially support a large aging population with a shrinking young demographic.