Except this doesn't happen. In fact there are wide swaths of people all capable of doing this one job (in fact any job, even CEO) roughly equally well, and they

Except this doesn't happen. In fact there are wide swaths of people all capable of doing this one job (in fact any job, even CEO) roughly equally well, and they are all desperate for jobs so THEY are the ones competing, racing to the bottom for any job the elite capitalists who control all of the wealth are kind enough to create for them. Someone taking $10/hr for $100/hr creation in value in order to get the job over the guy who offered $11 is what is actually happening.