Restricted laissez faire economics didn't work? Imagine that, capitalism with a wage floor, while attractive to the simple minded, is as untenable as capitalism with a wage ceiling. This is why capitalism will destroy its participants in the long run. Eventually out of desperation, to curtail the loss of life and replace the vanished middle class, socialism will arise to ensure basic health and well being in the economy as a matter of survival. Lament the myth of Croesus and that every one can be rich if only capitalism is allowed to function unimpeded. (yeah, I know, Croesus isn't a myth but his status is mythic)