The problem is an overfocus on an idealized, single facet of a far more complex system.

no, the problem are people trying to mud the issue with "it's a complex one, so lets do nothing, not even talk about it".

If my company demands higher pay, another company will undercut us.

and that is why we have laws and enforce them. (or it should be). because we have learned that unchecked and uncontrolled capitalism is, in fact, not working towards peace, liberty and justice for all, but towards putting everything into the hand of few billionaires and enslaving all other people.

yes, it is a complex topic that is not going to be solved with one minor rule. no one is saying it will be easy, but something has to be done.

History shows that “the greater good” is a dangerous concept and is rarely good for the majority.

nice billionaire talking points you have there. you are literally admitting you live in an oppressive economic regime and yet you try to defend it.