Just looking at pay ratios assumes a lot. Such as equal skill sets and value to the company.Unfortunately, in capitalism. More people that have certain skills drives down labor cost. Skills that are more rare pay more. If you discriminate against a large segment of the population that has those skills sets it can justify paying a man in 1950 that works at a factory enough money to have his wife stay at home and raise 2 kids.
On another note, the money that some workers make for a company is exponentially more than what they are being paid. There is enough money to go around its just that executives are being paid multimillion dollar figures and are using company "expenses" to lavish on "business trips" at the expense of their employees.
http://go.bloomberg.com/multimedia/ceo-pay-ratio/
Pay is determined by supply and demand, not what a worker needs to make. If a job is worth lets say $4 an hour and no more, and you make the min wage $10, what do you think happens to demand for that job?...
You end up giving those with few option less options, and that is never good... ever!