austerity

IPA: ɔstˈɛrɪti

noun

  • Severity of manners or life; extreme rigor or strictness; harsh discipline.
  • Freedom from adornment; plainness; severe simplicity.
  • (economics) A policy of deficit-cutting, which by definition requires lower spending, higher taxes, or both.
  • (obsolete) Sourness and harshness to the taste.
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