Henry Ford for all his faults (and there were MANY) at least understood that you gotta have a customer base for your products, and that paying workers well helps everybody out.
“If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you.”
It doesn’t set the legal standard that profits must be maximized which is impossible.