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Planet Money – The Eddie Murphy Rule

July 28, 2013
Planet Money – The Eddie Murphy Rule
Podcast release date: July 9, 2013
Time: 26:02

Frozen concentrated orange juiceFrozen concentrated orange juice

I’ve watched Trading Places several times, but I’ve never thought twice about how accurately the movie depicted commodities trading. However, after viewing Trading Places recently, Roman Mars wondered what happened on the trading floor at the end of the movie and went to Planet Money for answers.

Roman Mars co-hosts the Planet Money episode. They talk to commodities brokers (including one that trades frozen concentrated orange juice futures), and Trading Places gets many of the financial details right. Near the end of the movie, brokers on the trading floor are focused on frozen concentrated orange juice futures which hinges on a crop report for oranges that will be released later that morning. Planet Money steps through this scene with the experts, deciphering and explaining some of the dialogue.

The insider information about the orange juice crop report used in the movie was legal 30 years ago, but wouldn’t be legal today. Testimony in 2010 recommending a ban on using insider information in commodities markets mentioned Trading Places, and the ban became known as “The Eddie Murphy Rule.”

I like the way the collaboration between Roman Mars and Planet Money for this episode began with a question Roman Mars thought Planet Money could answer. You can also hear this episode with an introduction by Roman Mars on the second part of the Ladislav Sutnar + Trading Places with Planet Money” episode of 99% Invisible.

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