Last year, I was having lunch with a fellow economist who confessed a secret desire. “I hope the next recession begins soon,” he said.

“Why?” I asked, startled.

“Because otherwise we’ll get another four years of Donald Trump.”

He had a point. Many people give credit — or blame — to the president for the state of the economy. A member of my own family, for example, explained privately why she continues to favor President Trump.

I asked her, “What has Donald Trump done that you like?”

“The economy is doing great,” she said.

“Yes, it is, but what has Donald Trump done that you like?”

She gave me a quizzical look. “He’s given us a strong economy.”

I let the matter drop then. The role of lecturing professor is not well suited for family gatherings. But there are three lessons that politicians and voters should keep in mind during this election season.