WWII-era wage controls meant to combat inflation. Employers sidestepped them by offering other benefits to attract employees. Health insurance was a big one. It became entrenched and we're still stuck with it today.

With economic policy, I sometimes wonder if artificial floors tend to cause less strange distortions than artificial ceilings, because there's usually already a floor: zero. We just raise it a bit.

I feel like it's easier to anticipate the side effects of raising a minimum wage than it is for an earnings cap.