I don't see any objection to companies making a profit from the production of useful goods and services, as long as they pay a decent minimum wage. If they don't pay a decent minimum wage, then their practices are tantamount to slavery, which we all know is illegal, or certainly should be.
I'm not aware of any economic crisis being caused by minimum wages that are too high. Rather, the causes of all economic crashes, it seems to me, involve irrational behaviour motivated by greed.
In the early 17th century their was the Dutch Tulip economic bubble. The tulip was an exotic flower imported form Turkey and was different from from every other flower known in Europe at the time. It became a status symbol which just happened to coincide with an increase in the general prosperity of the Dutch people, through their increase in trade at that time.
Here's an extract from Wikipedia which describes the total absurdity of that situation.
The growing popularity of tulips in the early 17th century caught the attention of the entire nation; "the population, even to its lowest dregs, embarked in the tulip trade". By 1635, a sale of 40 bulbs for 100,000 florins (also known as Dutch guilders) was recorded. By way of comparison, a ton of butter cost around 100 florins, a skilled laborer might earn 150 florins a year, and "eight fat swine" cost 240 florins. (According to the International Institute of Social History, one florin had the purchasing power of €10.28 in 2002.
Likewise, in the build-up to the 1929 stock market crash in America, there was an irrational notion that the stock market could continue to rise indefinitely, allowing people to become rich without working. Brokers began routinely lending money to small investors, and often those borrowed amounts were more than two-thirds of the face value of the stocks they were buying.
This all seems to me to be remarkably similar to our current GFC. People were loaned money to buy houses, commodities and investments of various types, on the irrational assumption that such items would continue to rise in value indefinitely. This is essentially the concept of the 'free lunch', which we all know in reality does not exist. Someone always has pay for it.