Minimum wage and employee protection laws are the way forward. Everybody should be able to live comfortably, working at most 40 hours / week.
Minimum wage is bad in its own way, because it sets a "what is the least we can get away with" boundary for employers, but in the current employment climate, employers can and do get away with paying less (see the service industry where employees are expected to collect tips to stipend their wages, see the gig industry where the employer doesn't give a shit that the employee has to struggle full days to get enough work to get paid).