Austerity meaning: Discover what austerity measures

Discover what austerity measures are, their types, and how they impact economies with real-world examples from the U.S. and Greece. Learn the pros and cons. Austerity is the condition of living without luxuries or the quality of being austere. It can also refer to a difficult economic situation caused by a government reducing spending. Learn more with examples and translations. Definition of austerity noun from the Oxford Advanced Learner's Dictionary. [uncountable] difficult economic conditions created by government policies aimed at cutting public spending. War was followed by many years of austerity. [uncountable] the quality of being simple and plain in appearance. 3 meanings: 1. the state or quality of being austere 2. an austere habit, practice, or act 3. a. reduced availability of.... Click for more definitions.