Companies will do whatever they can to lower costs and increase profits. Automation is popular yet somehow, you still need those pesky human beings to do a lot of what needs to be done. I think if it takes a human being to do a certain job, that job should pay enough to allow him to survive.
And there is where the subjectivity comes in... what you think is enough to survive? What is survive to you?
Now... I do believe a company that wants to succeed will compensate employees accordingly, if they want workers to stay, advance, etc... But that is still a choice of the company... In my youth I worked in a restaurant where busboys made almost twice minimum wage and still got a share of tips from the wait staff, and that was a place that was sought after for work and made a nice profit off of customers who wanted top level service... Now does a roach coach necessarily worry about that or do they worry about volume and severe cost savings?
But everything still comes down to the individual who is working for a living. You start off in a minimum wage job at 16 because you are inexperienced, unskilled, etc... and as your needs, wants, and responsibilities grow, so should your approach toward work and your career... Now SHOULD an employer be required to worry that you are a 30 year old person with 3 kids and not a teenager when you still only offer the bare minimum of skills or value?? Not really, IMHO