So, I'm born poor, work like hell through high school, take out massive student loans to pay for college, then see my one chance at breaking out of the poverty cycle blown because the career path I gambled on five years ago suddenly has too many applicants?
I'm lost, because I haven't seen anything proposed that remotely sounds like "letting the government decide what jobs we have." But you seem to have no concern for the massive waste of human life that happens when people educate themselves for jobs they're never going to find. It's especially tragic when a bright, talented person works hard, ends up saddled with student loans, and ends up doing the sort of menial job she would have been doing had she skipped college.
There is a huge difference between having the government "telling us to be comrades" and the government saying that you have to pay the people in your employ a decent wage. One is about personal conscience, the other is about curtailing your ability to exploit your fellow citizens.
By your reasoning, it's also not the government's job to regulate banks to ensure that they're safe places for consumers to park their money. Why should they protect investors from disappointment? Investors will learn that their choice of institutions was unwise, they'll move to a different bank, and that's perfectly fine.
It makes perfect sense... so long as you ignore the deep disappointment and human tragedy that comes from the words "they'll move to a different bank."