>>>It’s legalized slavery
Compensation doesn’t have to be money to be worthwhile.
The interns receive non-monetary compensation by putting the possibly impressive position on their resumes. Colleges and employers indeed look at this.
The value is far greater than minimum wage. Running to Starbucks for Mr. Big at Megabucks Corporation or Bleeding Heart non-profit will differentiate this job applicant from the herd when applying to college or for a job afterwards.
These positions are often political gifts to the children of friends. They are not put in important positions, but as someone commented, they can cause damage.
In any case, why interfere in a free market situation?
Unpaid internship is a method of obtaining employees while not paying for them. Having observed the college internship system first-hand, employers, with few exceptions, use the interns for go-fers, etc. No real learning experience, no income, just free work for the employers.
An internship should be treated as a real job, paid at least minimum wage, and having a true work experience.
How long can you afford to work 40-50 hours a week, for free? You know, pay rent, eat food, pay utilties, gas, car payment, buy clothes and all the other assorted living expenses?
Doesn’t this pretty much garrentee that only people of a certain economic strata (or with parents from that strata) are every going to “qualify” for a position?
Or consider the very ‘real world’ scenario. 1 day before you complete your internship - you are replaced. Thank you for your service - next sucker please.