A couple of caveats: (1) The supply chain and risk landscapes have changed, and my anecdotal sense is that companies need larger margins to compensate. (2) Competition will generally keep abnormal profits in check. If your competitors raise prices and underpay workers, there is nothing stopping you from keeping your own prices lower and increase the wages you pay to attract the people you need and increase your own sales and profits. If companies don't do that, you need to at least contemplate why not.