Austerity

/ɔːˈsterɪti/ noun

Definition

Very strict and simple living with few comforts or luxuries, often imposed by government during economic hardship.

Etymology

From Latin 'austerus,' meaning harsh or sour. It evolved through Old French to describe both personality traits and economic policies of restraint.

Kelly Says

Austerity measures became famous during the 2008 financial crisis when governments cut spending—but the word comes from ancient philosophy where voluntary simplicity was considered a virtue!

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