Austerity Meaning and Definition
Austerity
Pronunciation
/ˈæstərti/
Part of Speech
Noun
Definition
A state of being economical with resources, often imposed by government, characterized by reduced spending, cuts in public services, and sometimes, increased taxes. Also, a strict and frugal way of living or an attitude of avoiding unnecessary expense.
Examples
- As a result of the economic crisis, the government implemented austerity measures.
- After losing her job, Sarah had to adopt an austerity lifestyle to make ends meet.
Synonyms
- Frugality
- Economy
Antonyms
- Profligacy
- Fulness
Etymology
The word “austerity” comes from the Latin “austerus,” meaning stern or rigorous.
Usage Notes
Austerity can be used in various contexts, including economics, politics, and personal finances. When used in a personal context, it refers to the attitude of avoiding unnecessary expense, whereas in an economic or political context, it implies strict budgeting and cuts in public services.
Cultural References
Austerity has been referenced in various works of literature, film, and television. For example, a 2013 film titled “Austerity” explores the economic crisis in Greece.
Idiomatic Expressions or Phrases
- Austerity drive
- Austerity measures
Related Words or Phrases
- Prudence
- Fiscal responsibility
Collocations
Austerity is often collocated with words such as “budget,” “cuts,” “savings,” and “reductions.”
Frequency of Use
Austerity is a moderately rare word, but its frequency has increased significantly in recent years due to the global economic crisis.
Common Misspellings
- Astertity
- Asturity