Meaning & Definition of word "Austerity"
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Austerity
/ɔːˈstɛr.ɪ.ti/
noun:
- 1. A policy of economic restraint characterized by the reduction of government spending, often implemented in response to economic crises.
- Example: The government's austerity measures led to significant cuts in public services.
- 2. The quality or state of being austere; severity or seriousness.
- Example: The austerity of the monk's lifestyle was evident in his simple clothing and sparse living quarters.
- 3. An economic condition of reduced consumption, often accompanied by a focus on saving and frugality.
- Example: During the recession, many families adopted a lifestyle of austerity to manage their finances.
Etymology
From Middle French 'austérité', from Latin 'austeritas', from 'austerus' meaning 'harsh'.
Common Phrases and Expressions
austerity measures:
Policies undertaken to reduce government spending.
austerity program:
A structured plan for implementing cuts in government spending.
live in austerity:
To live a lifestyle characterized by restraint and frugality.
Related Words
austere:
Severe or strict in manner, attitude, or appearance.
frugality:
The quality of being economical with money or food; thriftiness.
rigor:
The quality of being extremely thorough and accurate; strictness.
Slang Meanings of austerity
Meaning: Living on a tight budget.
Example Sentence: With the new austerity measures, we're all living on a shoestring.
Meaning: Cutting back on everything.
Example Sentence: Ever since the layoffs, it's been all about austerity in this office.