austerity - Definition from the ECONOMICS topic - POLITICS

Topic: ECONOMICS

austerity
noun

aus‧ter‧i‧ty See pronunciation table in "How to use dictionary" pages

See pronunciation table in "How to use dictionary" pages

plural austerities

1PE [countable usually plural, uncountable] bad economic conditions in which people do not have much money to spend:

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a time of great austerity after the war

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the austerities of post-communist Eastern Europe

2 [uncountable] when a government has a deliberate policy of trying to reduce the amount of money it spends

austerity programme/plan/package

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a tough new austerity programme

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IMF-backed austerity measures (=reductions in government spending)

3 [uncountable] the quality of being austere:

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a life of austerity

Definition of austerity from the Longman Dictionary of Contemporary English within
the topic ECONOMICS

Explore ECONOMICS Topic

balance sheet bankrupt(a) bankrupt(v) bankrupt(n) black market boom budget capitalism capitalist cartel commodity consumer consumer goods consumption demand developed diversify downturn economic economics economist economy embargo exchange expenditure fiscal floor free trade GDP goods gross domestic product import(n) import(v) importation importer inflation International Monetary Fund labour market laissez-faire market forces market value monetary outflow peg political economy price index privatization protect protective public service real recession refund slump socioeconomic squeeze(v) squeeze(n) staple stringent subsidy surplus trough trust

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