Well,your statement "cost reduction measures to remain competitive for investment and retain pre-existing margins for profit" does not refer to a causal link,but refers to standard neoliberal economic theories,which are not really provable in my opinion. for instance this quote from a study made by the Center for Economic performance:
It has proven difficult to identify evidence of negative employment effects
associated with these wage gains. Stewart (2004) has presented robust evidence, from a
range of longitudinal data sources, appearing to show that there have been no reductions
in the employment probabilities of minimum wage workers as compared to workers
slightly higher up the wage distribution. Even in the very low wage labour market for
care assistants, a sector one can view as being highly vulnerable to minimum wage
legislation, Machin, Manning and Rahman (2003) report only moderate disemployment
effects http://cep.lse.ac.uk/pubs/download/dp0715.pdf
In any case,the overall impact has to be considered from different perspectives: The national economy as a whole(not just private enterprise) negative effects of poverty which reduce life quality and even harm the economy,such as: Crime,health issues caused by poverty,including drugand alcohol abuse and mental illness(all these are linked).And social instability.
So your praxeology was incomplete.
RE: Logic Discussions: Praxeology