It completely changed the balance of power between landholders and peasants. Peasants started being able to actually negotiate on wages (to a degree that was revolutionary at the time), which also drove a market for capital and artisan goods. The merchant class exploded.
Landlords also started dumping money into development of labor-saving tools, which happens when most of your supply of free bonded labor suddenly dies off.
Landlords also started dumping money into development of labor-saving tools, which happens when most of your supply of free bonded labor suddenly dies off.
Pretty huge multi-faceted impacts.