austerity

Pronunciation: US [ɔˈsterəti] UK [ɔːˈsterəti]

Definitions in English

n.	1. an economic policy by which a government reduces the amount of money it spends by a large amount 2. a situation in which economic conditions are bad and people's living standards fall 3. the quality or fact of being plain, strict, simple, or severe

He gave presence..with such austeritie, that no man durst presume to spit or cough in his sight.
Source: W. Raleigh