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And what about those who do the jobs which aren't valued? Do they deserve to live badly? Are bricklayers worthless?
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Everything and everyone has a value. A bricklayer has value because even if there are 1000 of them that can do a particular job, one of them has to do it. The value of semi-skilled labour might get the guy a modest appartment and a vacation to Disney Land every 15 years if he isn't stupid with his credit cards. It all depends on what you count as 'living badly'. He wouldn't be living on minimum wage also, a buddy of mine is making $11.75/h carrying boxes off trucks into K-Mart so I doubt that anything but bottom of the barrel fresh-out'a-highschool positions pay that poorly. It is not really that hard to make ends meet with a bit of smarts and commitment, your life will just be boring as hell.
Of course, if we are talking about the jaw-droppingly idiotic weirdos who pack the freezers at the Walmart I shop at, yes they do deserve to live badly. (Think of the guys from Jackass blended with a porn-addicted 13yr/old and the social savvy of a cow)