However, I would suggest that we have a moral obligation to avoid sinking as low as we possibly can. Yes, if people are hungry, they will work for pennies on the dollar.
Ethically, I would suggest we avoid desperate people en masse, for a whole mess of reasons. Hell, I can make a financial argument that suggests we not do that. You get better work from content people who have the means to consume.
I guess it's more a thought exercise. It's probably up to us, as individuals, to do the right things. We don't really have much history of doing so, collectively. Buggered if I have the answers.