Well in all truth, minimum wage laws works the same way...we allow government to dictate a minimum compensation standard else you can not employ that person. I don’t agree but I do understand how one could argue the case
OTOH, employers in a truly free market will find themselves having to pay competitive wages or watch their employees go to employers who will.
I also do not object to deviations from the standard for other reasons. Catholic employers were urged by Pope Leo XIII in his encyclical Rerum Novarum (ca. 1893) to pay a wage sufficient to allow employees to comfortably support a family and acquire modest means of production and/or property out of any modest surplus. This ought not be confused with Marxism either because that encyclical was, in fact a profoundly anti-Marxist document. Leo XIII simply urged Catholic employers accordingly. He did not ask governments to intervene with legislation.
One theory of what Leo XIII was driving at was that an employer who is generous to his employees need not worry about them leaving his employ lightly nor about their loyalty.
I'll stand behind my maximum wage crack but it was directed at Rove and his ilk on another thread having to do with Rove's desire that we conservatives make a deal with Obozo on immigration (which would benefit Rove's crony "capitalist" buddies and patrons.
God bless you and yours!