Austerity: meaning, definitions and examples

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austerity

[ɒˈstɛrɪti ]

Definitions

^{Context #1 | Noun}

economic policy

Austerity is a set of policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both. It is often implemented during times of economic hardship to restore fiscal balance.

Synonyms

belt-tightening, budget cuts, fiscal discipline.

Which Synonym Should You Choose?

Word	Description / Examples
austerity	Used in economic contexts to describe strict financial policies meant to reduce government debt. Often involves cutting public spending and raising taxes. The government implemented austerity measures to tackle the national debt The period of austerity was marked by significant cuts in public services
belt-tightening	Informal term used to describe personal or organizational measures to reduce expenditures. Typically used in everyday language or in a business context. During the economic downturn, many families had to engage in belt-tightening The company announced some belt-tightening measures to stay afloat
fiscal discipline	Often used in formal financial discussions to describe the enforcement of rules and strategies to manage public finances responsibly. Fiscal discipline is essential for long-term economic stability The government emphasized the need for fiscal discipline to avoid future crises
budget cuts	Used to describe the reduction of planned or existing expenditures within an organization, company, or government. Usually in a specific context like a department or project. The school faced significant budget cuts, leading to staff layoffs The budget cuts in healthcare will affect many public services

Examples of usage

A country may adopt austerity measures to tackle a growing national debt.
The government imposed austerity on public services to control inflation.
The austerity program led to protests and strikes across the country.

^{Context #2 | Noun}

lifestyle

Austerity can also refer to a way of living that is characterized by simplicity, frugality, and self-discipline. It often involves avoiding luxury or unnecessary expenses.

Synonyms

frugality, self-discipline, simplicity.

Which Synonym Should You Choose?

Word	Description / Examples
austerity	Used to describe strict economic policies or conditions, often by the government or organizations to reduce expenditure. The government introduced harsh austerity measures to tackle the debt crisis. During times of austerity, many families struggle to make ends meet.
frugality	Used to describe someone who is careful with their money, avoiding waste and unnecessary expenditure. Frugality is a virtue that helps people save for emergencies. Her frugality allowed her to retire early with a comfortable savings.
simplicity	Describes a lifestyle or approach that is uncomplicated and focused on the essentials, often to achieve clarity and reduce stress. She embraced simplicity by decluttering her home and focusing on what truly matters. The beauty of the design lies in its simplicity.
self-discipline	Refers to the ability to control one's behavior, actions, and decisions, often to achieve personal goals. Self-discipline is key to maintaining a healthy lifestyle. He achieved success through hard work and self-discipline.

Examples of usage

She chose a life of austerity, preferring minimalism over materialism.
His commitment to austerity allowed him to save money for future investments.

Interesting Facts

Historical Origins

The word comes from the Greek word 'austeros,' which means 'harsh' or 'severe,' reflecting the strict measures often taken.
Austerity measures were famously implemented during the Great Depression in the 1930s and later during the European debt crisis starting in 2009.

Economics

Countries often adopt austerity to reduce debt, which can lead to budget cuts in services like health and education.
While austerity aims to stabilize the economy, it can also lead to public protests and dissatisfaction among citizens.

Politics

Political parties often debate austerity measures, with some arguing they are necessary while others believe they harm public welfare.
Countries like Greece and Spain have faced widespread protests against austerity measures due to their impact on everyday life.

Psychology

Adopting an austerity mindset can promote discipline and control over one’s spending habits, but it can also lead to stress and anxiety.
People may experience a sense of deprivation when living under austerity, affecting their overall happiness and well-being.

Culture

Many artists and writers have addressed themes of austerity in their works, reflecting societal struggles during economic downturns.
Austerity often contrasts with notions of abundance and luxury in modern consumer culture, provoking discussions about values and priorities.

Translations

Translations of the word "austerity" in other languages:

🇵🇹 austeridade

🇮🇳 कठोरता

🇩🇪 Sparsamkeit

🇮🇩 penghematan

🇺🇦 суворість

🇵🇱 surowość

🇯🇵 厳しさ (きびしさ)

🇫🇷 austérité

🇪🇸 austeridad

🇹🇷 kemer sıkma

🇰🇷 긴축

🇸🇦 تقشف

🇨🇿 přísnost

🇸🇰 prísnosť

🇨🇳 紧缩 (jǐnsuō)

🇸🇮 strogost

🇮🇸 strangleiki

🇰🇿 қатаңдық

🇬🇪 სიმკაცრე

🇦🇿 sərtlik

🇲🇽 austeridad

Word Frequency Rank

With rank #15,809, this word belongs to specialized vocabulary. While not common in everyday speech, it enriches your ability to express complex ideas.

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15806 hemlock
15807 barbarism
15808 uric
15809 austerity
15810 lawless
15811 consecutively
15812 giver
...