Employers don't need to be fair and reasonable.Any employee can...

Employers don't need to be fair and reasonable.

Any employee can become an employer if he so chooses.

Lower wages means more people entering the market as employers than employees, hence a price war on acquisition of labour will raise the wages to "sustainable" levels, that are fair in regards to the work being performed.

This is the nature of free market competition. And there are enforceable laws (such as anti-colluding laws) that are already in place to protect employees from being paid under the "fair" value (market equilibrium).