Economic models keep most numbers fixed to simplify their math. They call it ceteris paribus.
So when economists claim that increasing wages will reduce the amount of jobs, they came to that conclusion by keeping corporate profits fixed while doing their math. So any business expense is paid for by reducing workers or wages.
In the real world corporate profits are not fixed and have grown faster than wages for decades.
Keep that in mind if an economist ever tries to claim increasing wages will reduce the quantity of jobs.
Economic models keep most numbers fixed to simplify their math. They call it ceteris paribus.
So when economists claim that increasing wages will reduce the amount of jobs, they came to that conclusion by keeping corporate profits fixed while doing their math. So any business expense is paid for by reducing workers or wages.
In the real world corporate profits are not fixed and have grown faster than wages for decades.
Keep that in mind if an economist ever tries to claim increasing wages will reduce the quantity of jobs.