No one is forcing people to work for companies that pay low wages, so there's no justification for intervening in their private business and forcing them to shu

No one is forcing people to work for companies that pay low wages, so there's no justification for intervening in their private business and forcing them to shut down. You're also not helping anyone by killing off companies that pay low wages. There is no automatic substitution where a new company emerges that pays good wages when you kill off an old company that paid low wages. All you do by killing companies off with mandatory minimum labor standards is reduce the demand for labor, and with it, wages.