In a recent editorial, an economist argued that increasing the minimum wage will lead to higher overall employment rates. The economist claims that as workers earn more, they will have more disposable income to spend, which businesses will benefit from, thus encouraging them to hire more employees. However, the editor of the economic journal countered by stating that raising the minimum wage might lead employers to reduce staffing levels or cut back on hiring due to increased labor costs.

Based on this argumentation, which of the following most accurately describes the reasoning technique employed by the economist?