Meaning & Definition of word "Austerity"

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.