Where did this notion come from that wages equal the value of a person? If this were true, shouldn't every single person make the same amount, regardless of age, experience, knowledge, or ability?
About minimum wage: do you know who really lobbies the hardest for increased minimum wage? Unions. Because they peg their base-line wages to the minimum wage. If they can succeed in getting the minimum wage raised, they can raise the pay for all of their workers who are already making 3 to 5 times the minimum wage.