Where's the proof that this so-called fallacy is indeed a fallacy? After reading the wiki description it seem to me that while the core idea is true, this theor

Where's the proof that this so-called fallacy is indeed a fallacy? After reading the wiki description it seem to me that while the core idea is true, this theory is overreaching in trying to explain away for example the impact of immigration on the job market. You're ignoring a very important detail - the quality of jobs. Only if people lower their standards enough will there be as many jobs as people that want to work. A significant number of those jobs will be (nearly) worthless, causing other social issues. Disguising a lack of jobs as "not enough entrepreneurs" or "too much regulation" is simply a malicious semantic trick.