The market is a system for solving problems. However, not all problems are obvious to market participants. The problem might cause harm on a longer timeframe than their typical focus (for example: environmental destruction). Or the problem might cause harm to people who participate less fully in the market (for example: the problems of poverty).

One of the roles of government is to pose these problems to the market, for the market to solve.

For example, we, as a society, don't want old people to die starving in the street. So we have posed this problem to the market in the forms of Medicare and Social Security taxes. The market needs to find a way to pay those taxes while meeting consumer demand, and it largely has.

We don't want to drink polluted water, so we have posed this problem to the market in form of limits on pollutants that can be released. The market has to find a way to meet consumer demand while staying within these limits, and it largely has.

So, we need to be clear about what problem we are asking the market to solve if we create a guaranteed government-supplied income for everyone. Is the problem a basic standard of living for everyone? Or is the problem full employment for everyone? I agree with Fred that those two things are not equivalent.