A Relevância Jurídica da Oscilação do Poder Aquisitivo

Abstract

I seek the origins of purchasing power in Aristotle's concept of acquisitive capacity. I then try to demonstrate that William Fleetwood's original notion of purchasing power, which was predominantly statistical, was disfigured by Adam Smith and how this new version influenced the jurist Savigny. I highlight the reflexes of such distortions in Brazilian law, especially after 1964, when compulsory indexation was instituted, pointing out that the failure of Plan Collor I and II strengthened the mistaken belief that purchasing power may be the object of property rights. I try to show what actually happens when compulsory indexation is applied (by providing the camouflaged incidence of foreign currency in the national monetary order, to benefit selected groups without control by the monetary authorities). I conclude that the variation of purchasing power, although legally relevant, is subject to monetary sovereignty, does not replace the national currency as a measure of value and its application, in the form of monetary correction, or compulsory indexation, is unconstitutional.