Not true because if the profits aren't high enough, you won't be able to pay these workers enough money for it to be interesting to them.
If you can make 2 cents/hour by employing someone, that doesn't mean someone will accept the job. People will prefer not working (and maybe resorting to crime to survive) at all rather than not making enough to live properly.
I believe we are already at the limit here. Many people work for less than enough to live properly. In France, we know what happens when people start starving to death while others are fat and rich.
The social measures are meant to prevent the poor population from killing the rich. It's the price to pay for peace and security.
You don't work now because you /must/ for humanity to survive. You work now because someone wants to get richer and you're helping them.