I see. So if a business decided that its balance sheet, risk profile, debt structure, analysis of demand reaction to price increases, levels of international competition, skills needs, and seasonal analysis required that its employees be paid $1 an hour, the government ought not have a say?
“Logic” demands that the government stay out and leave these decisions to market forces? The worker has no option but to accept what’s given, even if it is only subsistence crumbs? The worker is only a cog in a vast impersonal machine that runs in the Newtonian universe of market forces?
You’re probably unaware, but this is directly contrary to Catholic teaching. Morality and justice, according to Catholic teaching, reside at the heart of every economic transaction, just as they do in every interaction between human beings. This most definitely includes wages.
Unfortunately, Catholic teaching has gotten lost in a society in which avarice and greed are justified as “market forces” governed by an “invisible hand” – notions which are little more than rationalizations of theft.