>I think it would quite quickly turn into yet another source of conflict between employees. The problem with "equal pay" is direct comparisons only work in jobs that are essentially assembly line work, e.g., person A and person B do exactly the same thing every single day, and their output can be measured in exactly the same way, namely how many widgets each person produces in a given time period. Finding a difference in pay in that situation is cause for concern.
When I was in industry, our company was a 20-person R&D house that paid everyone equally, from new hires like me to founders of the company. And it worked great!