What is the meaning of Austerity? Concept, Definition of Austerity

Definition of austerity

On this website you will find one or more meanings in your language for the word or expression: austerity. As well as definitions of Wikipedia pages and other Web pages related to the word austerity and, of course, synonym of austerity with appropriate images related to the use of this expression.


1. Concept of austerity

What is austerity?

Austerity refers to the reduction of the expenditure by Governments with the aim of reducing the budget deficit. Austerity measures often include wage cuts and increased taxes and are conducted to ensure the payment of claims to the creditor Government.
The austerity measures are quite inpopulares since they tend to be accompanied by a decrease in services, both in quantity and in quality. Due to the global economic downturn of 2008, beginning of 2009 many countries were forced to take austerity measures.


The concept is associated with asceticism and frugality. It is intended to enter the austere mode. The word austerity is used when we want to refer to modesty. The modest is refuse the unnecessary when the unnecessary makes no sense. Reference of this word is also made as severe times.


Austerity in economics refers:

Policy cut the deficit down costs by reducing the amount of benefits and public services. The austerity policies are commonly used by Governments seeking to reduce its deficit; Sometimes they can be attached to the tax increment to demonstrate fiscal solvency in the long term to the creditors.
There is another meaning which is applicable both to the public and private sector: a term used in ecological economics and sued by economists such as Nicholas Georgescu-Roegen.

2 Meaning of austerity

It means austerity all the condition posed by the lack of exaggeration, the presence of the very essence of a thing, a humble attitude or little extravagant. Austerity can be both a characteristic of an individual personality and also a characteristic of an object or of a specific situation. Whenever we talk of austerity we are referencing things, elements or situations in which the simplicity, lack of exaggeration and extravagance are present.
Austerity is one of the characteristics that a person may develop as part of his character or his way of facing life. In this sense, the austerity can be defined as a way of confronting situations in a natural way, without extravagance, luxury or exaggerations. Many times, the austerity has to do with the decision not to generate so many expenses from lower consumption: thus, one is not austere only by not spending money if not by not generating too much wear on the planet to consume fewer elements and products. Here we can say that it is now an austere lifestyle that does not need too much and that can mean comfort or satisfaction even without luxuries or exaggerations.
Furthermore, the austerity is also a characteristic or trait which can be found at elements, to situations, to forms of decoration. A gift is for example, austere when it is a simple gift, that does not have too many luxuries. A Department is austere when it has a very ornate decoration if that lacks the most basic elements. A dress is austere when it has no more than fabric which is made instead of motifs and appliqués. As it can be seen, then, many things can be austere if they represent simple, natural and free of both charge in detail formats.

3. Definition of austerity

Austerity is a term that comes from the Latin word austerĭtas and indicating the quality of austere. Austere someone, on the other hand, it is sober, morigerado, penitent, and severe, making any kind of fanfare and which conforms rigorously to the rules of morality.
For example: "this Government will maintain the austerity and will be completely transparent," "think, at this time of economic crisis, austerity is essential", "the singer is not characterized by their austerity: just spend half a million dollars in toys for his daughter".
It is possible to austerity associated with frugality (moderate consumption of goods and services) or asceticism (the negation of the material pleasures). So you can understand austerity as mortification of the passions or the senses.
No link, on the other hand, the austerity with lack. A millionaire can be austere, while a poor can squander what little they have. Suppose that the owner of a large company wins $200,000 a month. This sum would allow to have a mansion and luxury cars, or trips around the world. However, this entrepreneur prefers austerity: lives in the House he inherited from his parents, has an old car and always vacations on a beach in his country.
A man who is unemployed, on the other hand, spent beyond their means and consumed their savings without thinking about the future. Despite not having work, this person shows to not know what is the austerity and decides to buy a new car even if you already have one that lets you move smoothly.