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- Austerity is a term that refers to the condition or practice of living with limited resources or comforts1. It can also mean a set of economic policies that aim to reduce government budget deficits by cutting spending or raising taxes2. Austerity is often implemented by governments in times of financial crisis or high debt.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.austerity noun uk / ɔːˈster.ə.ti / us / ˈɑː.ster.ə.t̬i / Add to word list [ C or U ] the condition of living without unnecessary things and without comfort, with limited money or goods, or a practice, habit, or experience that is typical of this:dictionary.cambridge.org/dictionary/english/austerityIn economic policy, austerity is a set of political-economic policies that aim to reduce government budget deficits through spending cuts, tax increases, or a combination of both.en.wikipedia.org/wiki/Austerity
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Austerity Definition & Meaning - Merriam-Webster
WEB1. : the quality or state of being austere: such as. a. : a stern and serious quality. the formal austerity of his manner. b. : a plain and simple quality. the austerity of the design. 2. : enforced or extreme economy …
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WEB1 day ago · the state or quality of being austere. 2. (often plural) an austere habit, practice, or act. 3. a. reduced availability of luxuries and consumer goods, esp when brought about by government policy. b. ( as …
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