Doesn't your argument basically assume the first company will always be able to hire workers? If wages are so bad, workers would seek other options, like developing a skill or taking a job in a different industry.
...Does this guy actually know any economics? He's pretty much just googling and copy-pasting without any real understanding. Here's a better article
The employment effect of the minimum wage is one of the most studied topics in all of economics. This report examines the most recent wave of this research – roughly since 2000 – to determine the best current estimates of the impact of increases in the minimum wage on the employment prospects of low-wage workers. The weight of that evidence points to little or no employment response to modest increases in the minimum wage.
1.5 million American families, including 3m children, live on less than $2/person/day. Half the world lives on less than $2/day (in our buying power). This isn't by choice.
I agree that's something we should be concerned about. I don't think minimum wage laws address that issue though.
If you want to help improve standards of living around the world, reduce immigration restrictions so that people can move from countries with few economic opportunities to other countries where there are more opportunities.
Personally I agree with most of what Bryan Caplan has written on the topic.
http://blog.skepticallibertarian.com/2013/02/25/remedial-eco...