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Is this something a hypothetical generous CEO could even fight? Of course not, because in the US, at least, and likely most Capitalist countries, a CEO has a legal fiduciary responsibility to do what is in the best interest of creating most profit for shareholders. It's literally illegal for them to not exploit the workers as much as they possibly can in order to maximize profits.

Sometimes, higher pay scales improve higher employee retention and attract better talent, for example, yes, but this is still done with the idea in mind that in order to maximize profits, they need to pay more for their talent. It is still in the interest of maximizing profits.

It is literally illegal for a CEO to pay employees more than they feel they have to.