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Glad you brought that up. The US Dollar hasn't meant anything since coming off the gold standard, and we can't control it's value so long as the Federal Reserve controls interest rates, and the government has a monopoly over what currencies we can and can't use. (No this isn't advocation for company script, if you can't spend it anywhere else it's not currency)
With actual competition between companies, the laborer could actually compete for the best jobs and get the best compensation for their labor.
Capitalism will NEVER allow free competition, nor for the workers to be paid their true value.
So long as government meddles in it, yes you are correct.
🙄 regulations are the only thing that slow the unfettered greed built into the system.
Ya'll have some weird and completely incorrect fantasies.