>If you reduce the supply of labor, the working class will see its wages increases. This is Economics 101
No, this is not economics 101. Cost of living will go up as supply of workers dwindles. Also, every worker is also a consumer. Someone who earns $50k will in turn spend that money or put it into banking or investments or savings for later spending.
No, this is not economics 101. Cost of living will go up as supply of workers dwindles. Also, every worker is also a consumer. Someone who earns $50k will in turn spend that money or put it into banking or investments or savings for later spending.