What does austerity mean?

Definitions for austerity
ɔˈstɛr ɪ tiaus·ter·i·ty

Here are all the possible meanings and translations of the word austerity.

Princeton's WordNet

  1. austerity, asceticism, nonindulgence(noun)

    the trait of great self-denial (especially refraining from worldly pleasures)

Wiktionary

  1. austerity(Noun)

    Severity of manners or life; extreme rigor or strictness; harsh discipline.

  2. austerity(Noun)

    Freedom from adornment; plainness; severe simplicity.

  3. austerity(Noun)

    A policy of deficit-cutting, lower spending, and a reduction in the amount of benefits and public services provided.

  4. austerity(Noun)

    Sourness and harshness to the taste.

Webster Dictionary

  1. Austerity(noun)

    sourness and harshness to the taste

    Etymology: [F. austrit, L. austerias, fr. austerus. See Austere.]

  2. Austerity(noun)

    severity of manners or life; extreme rigor or strictness; harsh discipline

    Etymology: [F. austrit, L. austerias, fr. austerus. See Austere.]

  3. Austerity(noun)

    plainness; freedom from adornment; severe simplicity

    Etymology: [F. austrit, L. austerias, fr. austerus. See Austere.]

Freebase

  1. Austerity

    In economics, austerity describes policies used by governments to reduce budget deficits during adverse economic conditions. These policies can include spending cuts, tax increases, or a mixture of the two. Austerity policies may be attempts to demonstrate governments' liquidity to their creditors and credit rating agencies by bringing fiscal income closer to expenditure. In macroeconomics, reducing government spending generally increases unemployment. This increases safety net spending and reduces tax revenues, to some extent. Government spending contributes to gross domestic product, so the debt-to-GDP ratio which signifies liquidity may not immediately improve. Short-term deficit spending particularly contributes to GDP growth when consumers and businesses are unwilling or unable to spend. Under the controversial theory of expansionary fiscal contraction, a major reduction in government spending can change future expectations about taxes and government spending, encouraging private consumption and resulting in overall economic expansion. Initial austerity results in Europe have been as predicted by macroeconomics, with unemployment rising to record levels and debt to GDP ratios rising, despite reductions in budget deficits relative to GDP. Eurostat reported that Euro area unemployment reached record levels in March 2013 at 12.1%, up from up from 11.0% in March 2012 and 10.3% in March 2011; and that the debt to GDP ratio for the 17 Euro area countries together was 70.1% in 2008, 80.0% in 2009, 85.4% in 2010, 87.3% in 2011 and 90.6% in 2012. Further, real GDP in the EA17 declined for six straight quarters from Q4 2011 to Q1 2013. The U.S. Congressional Budget Office estimated in August 2012 that if the U.S. implemented moderate austerity measures, the unemployment rate would rise by over 1% and economic growth would be significantly reduced in 2013. The U.S. partially avoided the "fiscal cliff" through the American Taxpayer Relief Act of 2012. U.S. unemployment has fallen steadily from a peak of 10% in early 2010 to 7.6% by March 2013.

How to pronounce austerity?

  1. Alex
    Alex
    US English
    Daniel
    Daniel
    British
    Karen
    Karen
    Australian
    Veena
    Veena
    Indian

How to say austerity in sign language?

  1. austerity

Numerology

  1. Chaldean Numerology

    The numerical value of austerity in Chaldean Numerology is: 9

  2. Pythagorean Numerology

    The numerical value of austerity in Pythagorean Numerology is: 3

Examples of austerity in a Sentence

  1. Henrique Fontana:

    The opposition will try to use this to paralyze Congress, create an institutional crisis, we won't let that happen. We will push ahead with the austerity plan.

  2. Melissa Mark-Viverito:

    Austerity is not the solution, the solution to this crisis cannot be at the expense of the working class and the most vulnerable.

  3. Lopez Obrador:

    Everything to do with the republican austerity plan and fighting corruption will have priority from the first day of the new Congress.

  4. Hans Humes:

    Wall Street seems to have some concerns about Guzman's lack of experience in politics and 'heterodox' economic views. I think these views are misplaced, as far as experience, Guzman has been involved in sovereign and quasi-sovereign situations. And his views on growth rather than austerity led recoveries are spot on.

  5. Masafumi Yamamoto:

    The market appears to be relieved for now after Greece asked for a loan extension. But Greece is not promising fiscal austerity and Germany has shown scepticism, the market is used to seeing this by now, but if a deal isn't reached today, the euro could face selling pressure and dollar/yen could also see the same as risk appetite will be hurt.

Images & Illustrations of austerity

  1. austerityausterityausterityausterityausterity

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Translations for austerity

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