There is no guaranteed minimum income even in developed nations (not even with those huge debts). Most likely thing to happen is that those sweatshops will become automated and the population will have to drop to pre-industrialisation levels.
Free labour is one of the things which led to the fall of the Roman empire. Nobody needs technology when you have slaves. And there are a lot of slaves in the world, just read the latest UN report on it.
One big problem with it is that it's such a cheap target for PR. It's cheaper to build an "artisan trademark" that people associate with quality in other ways than to actually sell high quality products. And even if you do manage it the hard way, your trademark would become a very valuable acquisition target, with obvious consequences.