Ahhh, so you are either a fascist or a communist, depending on how you want to go about it. Got it. You are most certainly a progressive.
No, government should not be regulating wages, nor should it be regulating prices. If companies fail to pay their workers a reasonable wage for the labor required, they won't find workers, and if they can't find workers, they can't do business. And if companies fail to pay their workers a reasonable wage, they won't have *customers* buying their products, which in turn means that they won't have income and will likewise go out of business.
Progressives like you are the greatest cancer on the body politic in history. There has never been a progressive who isn't, at their heart, an authoritarian wanna be, a racist who feels that people that are different than them are incapable of making rational decisions in their own interest, and with a superiority complex that asserts that they and they alone know the Truth (tm) such that anybody who disagrees with them need to be silenced by any means necessary.
And the hilarious thing is, those of us who aren't progressives simply need to let the progressive talk, because they always reveal themselves.
Woodrow Wilson implemented the minimum wage on expressly racist and social Darwinist grounds, and was a major figure in the KKK (and a progressive, like you! Aren't you so proud of the man who, when he had his stroke, was planning on cancelling elections and having his Republican opponents put in camps and killed off?)