What can poker teach us about economics? A lot, actually.

The Constitutional Reporter hosted the first ever “Poker and Politics” tournament yesterday at Auraria Campus. Students from a European Politics class were invited to play poker with celebrity dealers Jon Caldara of the Independence Institute and radio personality, Cleve Tidwell candidate for U.S. Senate, and State Representative Kent Lambert.

Caldara was the featured 'fascist' poker dealer. He was quick to cut deals across the table and exhort poker chips from the four players at his table. A central-planning dealer will try to get involved in the poker game in every way possible, and Caldara did just that by telling players what to bet, when not to bet, and when to give him money. In exchange, Caldara provided favors through winning opportunities to his two favorites at the table. At a fascist poker table, even a two pair can beat a royal flush; it all depends on what the dealer says. While Caldara was busy choosing winners at this poker economy, his overall economy began to sharply decline and many players were left behind.

Cleve Tidwell, though a committed free-enterpriser, played the role of 'socialist' poker dealer remarkably well. This may have been made easier by the availability of current events and news stories which are easy to parody. For example, Cleve would tell players that, “Pelosi says we need to raise taxes so we can prepare for the future. We need to be ready in case we need to bail any of you out.” At the end of this game, the socialist dealer held almost all of the chips and was dealing himself into the game. “The government had to step in and take an active role in this poker economy,” said Tidwell, “because these players weren't doing enough in the economy?” Could that be because the socialist government sucked up all their money and resources through taxes and redistribution???

Representative Kent Lambert, the token free-market table, led his table to victory. Every player at this table ended up with sufficient wealth and resources, despite suffering several losses and setbacks throughout the game. What was his secret? Did Rep. Lambert have a special, several hundred page tax code, or did he work to create incentive for some poker players and dis-incentive for others? Quite the opposite. “This table is hands-off poker,” said Lambert, “all the hard work and ingenuity of the participants is the reason for their success. Since they were the contributors to the creation of wealth, then they should also be the benefactors of that wealth. I made sure the government stayed out of this poker economy." Thanks to the approach of Rep. Lambert, this economy was actually able to lower the cost of living (in poker terms, the ante) so that more players were able to take part in the action, and were able to increase available resources through their high levels of productivity.

And this took place while the other tables were in a race to raise the cost of living higher and to squander resources faster.

The students were competing for shares of Jimmy John's sandwiches. The socialist and fascist table went hungry, with the government taking up most of the food. But at the Capitalist table, every player was able to take some bread home to their families.

“Government has to be well-fed,” explained Jon Caldara.

“If they were concerned with providing food for their families, they should have sat at the Capitalist table,” said Cleve Tidwell, “I kind of wish I would have sat at that Capitalist table...”

At the end of the poker game, State Representative Kent Lambert gave a great talk about the failures of socialized medicine as he had personally experienced and see first hand in Sweden, years ago. Students were receptive, and the possibility of hosting another “Poker and Politics” tournament next semester looked very promising.