Actually as callous as it sounds extra deaths are good for the economy.

More dead people means fewer competitors for all resources except labor. What that means is fewer people need stuff and there are fewer people to make stuff, so the stuff the dead people had is easy to obtain for the living while employers have to pay more for labor because there is less of it.

As evidence the black plague was considered one of the major events that ended the dark ages and the oppressions (relatively speaking) of the peasant class. Suddenly lord's needed to start giving their peasants rights and things to do or risk losing them to a lord that would give them those things.

It's horrible and callous but it is also a fact, especially when you consider many of those deaths were not among the most productive segments of society.