I would argue that the overall economy is more productive when the lowest wages meet some minimal living line (higher than we have now). This causes businesses

I would argue that the overall economy is more productive when the lowest wages meet some minimal living line (higher than we have now). This causes businesses to search to meet a higher efficiency of value creation in order to stay in business. The evolutionary culling of poor efficiency businesses drives a virtuous cycle for our civilization and economy in the long term. If the companies are searching for a way to leverage lower wages for employees - that isn't real value creation. Driving wages too low, we get our current economic stagnation.