Noun: austerity o'ste-ru-tee [N. Amer], ó'ste-ru-tee or o'ste-ru-tee [Brit]
- The trait of great self-denial, especially refraining from worldly pleasures
"a new budget of unaccustomed austerity";
- asceticism, nonindulgence
- (economics) economic policy of reduced spending and increased frugality
"The government implemented austerity measures during the financial crisis"
Derived forms: austerities
Type of: self-denial, self-discipline
Encyclopedia: Austerity