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Meaning of austerity measures
The primary meaning of "austerity measures" refers to actions taken to reduce spending and cut costs, typically in a time of economic crisis or financial difficulty.
Etymology of austerity measures
The word "austerity" originates from the Latin "austeritas," meaning "severity" or "sternness."
The term has been used in English since the 15th century to describe a state of strictness or simplicity, and its usage has evolved over time to encompass the concept of economic restraint and fiscal discipline.
Synonyms
frugality measures
cost-cutting measures
budget cuts
financial restraint
economic restraint
belt-tightening measures
retrenchment
thriftiness
prudence
parsimony
stringency
severity
harshness
rigidity
strictness
sternness
frugalness
economization
reduction
curtailment
limitation
constraint
restriction
austerity plans
austerity programs
fiscal discipline
financial discipline
economic discipline
Definitions
- Austerity measures are defined by Oxford Languages as "measures taken to reduce spending and cut costs, typically in a time of economic crisis or financial difficulty."
- The term can also refer to "a state of reduced spending and financial cutbacks, especially one imposed by a government."
Usage Examples
- The government implemented austerity measures to address the budget deficit and stabilize the economy.
- The company was forced to take austerity measures, including layoffs and salary cuts, to stay afloat during the recession.
Antonyms
profligacy
extravagance
lavishness
wastefulness
recklessness
imprudence
indulgence
leniency
laxity
permissiveness
liberality
generosity
profusion
abundance
affluence
opulence
luxury
excess
surplus
overindulgence