I respect your point about not letting the big-ego psychopaths running the show. I have this gut revenge reaction against the big-ego jerk (I won't quite call him a psychopath) that fired me on the basis of a B.S. reason. I think I might have fantasized about having a law where I could sue him for being the gigantic jerk that he was. But it was enough satisfaction to see him run that business straight into the ground with his ego-driven approach -- they went bankrupt about a year and a half after I got the boot. And I found another job -- in fact, not only did they not hold the firing against me (which I was certainly concerned about at the time, especially when they asked why I left the previous job), but the interviewer laughed and thought it was a great story.
That's how it should work: easy to hire, easy to fire, and let the job market sort it all out. Good managers know that treating people like crap isn't good for business.
The worst would be a situation like in certain parts of Europe, where it is so difficult to fire people that companies are equally reluctant to hire, and it becomes very difficult to expand a business without fear that contraction will be impossible. Yes, in some European countries it actually works (the beautiful land in which I am currently vacationing, zum Beispiel). But that has a lot to do with cultural factors that cannot simply be dictated by act of law. There is a big difference in Europe between the German/Scandinavian countries on the one hand, and all the others. And I fear that America would be more like the latter. Just think of how inefficient our legal system can be -- the thought of potentially having to fight out a yearslong legal battle every time you let someone go would be a disaster for business, even if the business was vindicated every single time.
If it works in your country, great! I hope you're in one of the more successful ones, rather than one of those with 20% unemployment. And even if not, I respect the sovereign right of your country to choose its own labor laws, regardless of what I might choose for my own. But in the same vein, I think you could give America a little more credit -- at-will employment (the legal term for this) is not exactly "anarchy." If the CEO had beat the man to death with a baseball bat, Untouchables-style, you might have a better case.
Finally, don't get me wrong (as I feel obligated to underline, lest I be discounted as some heartless libertarian -- or worse, Republican!): there are situations in which the power balance is so uneven, or the conduct so egregious, that regulation is justified. But firing a Creative Director of a large corporation for taking pictures is simply not one of them, nor should it be.