The alternative to letting market place deciding resource allocation (including how much CEO's get paid) is not less concentration of wealth and power, but far greater concentration of wealth and power through cronyism like what the most regulated industry (banking and mortgage lending) has become.
I agree wholeheartedly. From Ayn Rand on economic interventionism:
"Every government interference in the economy consists of giving an unearned benefit, extorted by force, to some men at the expense of others. By what criterion of justice is a consensus-government to be guided? By the size of the victim's gang."
- from "The New Fascism: Rule By Consensus, Capitalism: The Unknown Ideal"