There’s a great misunderstanding surrounding government debt and its economic implications. Many view it as a financial burden that will be passed down to the next generations. But what if, in fact, government debt is a critical component to how money gets made?

Paul Sheard is the former vice president of S&P Global and the author of The Power of Money: How Governments and Banks Create Money and Help Us All Prosper. He’s got decades of experience analyzing global financial markets and was the chief economist at Lehman Brothers during the 2008 financial crisis.

Paul and Greg chat about the common misconceptions around how money is made and injected into the economy, government debt, and the role of quantitative easing.

unSILOed Podcast is produced by University FM.