A fantastic book – one of my very favorites – that deals with this exact subject is Earth Abides by George Stewart. An airborne, highly contagious and highly lethal flu-like disease sweeps the earth and eliminates most of the human beings and certain other higher primates. The rest of the protagonist’s life as society regroups is described. It’s a bit technically dated now, having been written in the late 1940s, but the basic outline and social interaction is still valid.
Funny that the 1918 flu comes up for discussion. I just finished reading The Great Influenza: The Epic Story of the Deadliest Plague In History by John M. Barry. According to this, while that flu killed more people than the medieval bubonic plague, it was a smaller percentage. I think the 5 - 10% range is about right, allowing for the fact that in some places at some times, they stopped keeping accurate records; people were dying faster than they could be counted. Also according to Barry, this virus very likely originated in the central U.S., in swine. It was exacerbated by poor public health policy, plus the outright lying of virtually every government in the world; all kept insisting that everything was just fine, after all, “it’s only influenza.” People knew better and panicked. The governments, especially the U.S., kept sending train- and ship-loads of military personnel all over, despite the fact that virtually all had recently been exposed to this known killer illness.
In any case, he is of the opinion that it would be possible to deal with such an outbreak much more responsibly today. The main cause of death was actually secondary pneumonia. He also says that in some places society came really, really close to breaking apart entirely. Basic commerce of all kinds virtually ceased in many cities. Had it not been self-limiting, tending to burn itself out within a particular area within a month or two, things would have been much worse.
Finally, for a nice non-fiction portrayal of life in and after the time of the Black Death, try Barbara Tuchman’s Distant Mirror: The Calamitous Fourteenth Century. Again, something like 30% of Europe died, more in some places. Society changed drastically but survived. Of course, this was not a truly world-wide event. Had 100% of Europe died, the civilizations of the far east could have simply taken over. (Hmm. Interesting alternative fiction idea…)
In any case, IMHO society could survive a 30% loss and recover, but would take a serious hit. I think much over 50% and the resulting disruption, if it were truly world-wide, would take several generations to recover. If anything approaching 90% of all humanity ceased to exist, so would society as we know it. (I like *Earth Abides *for its portrayal of the complete loss of modern technology and starting over.) Homo Sapiens would continue to exist as a species, and isolated individuals would eventually re-form into clans or tribes, but it would take several centuries to start to redevelop anything remotely resembling modern life.