What is austerity

Austerity refers to simplicity and moderationjust like him strict adherence to moral norms by individuals.

Referring to the definition given to the word, it can be seen that the term is used to describe people, things, situations or facts, that is, a thing is austere when in its characteristics it does not present too many luxuriesbut quite the opposite, it is very simple, for example: “the house is austere”, this means that its decoration and furniture are very simple.

As for the person, the adjective is used austere to describe a severe, rigid, sober or modest individualis the case of a person who reduces their consumption or deprives themselves of luxuries in order to reduce their expenses and, in many cases, the person has a good economic situation but prefers to lead this lifestyle thinking about the future.

Austerity is linked to frugality and asceticism. However, frugality is a quality of being thrifty, moderate, in turn, asceticism is the renunciation of economic pleasures in order to lead to moral and spiritual perfection. Therefore, austerity is living with simplicity and without any type of luxury.

On the other hand, the term austerity is used as a synonym for: severity, rigor, hardness, roughness, minimalist, among others. Likewise, some antonyms of the word austerity are: abundance, wealth, waste, etc.

Austerity as a value

The opposite of austerity is waste, which is why austerity is a virtuewhich allows the individual to control their expenses, since no one should acquire debts for owning goods or a luxury lifestyle that at a certain moment in their life they cannot acquire.

In reference to the above, the same thing happens in political life, since a country must encourage the promotion of wealth through different financial policies and not through debts with foreign countries that cause the ruin of a country.

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economic austerity

Economic austerity is a type of policy used by governments in economic crisiswhich consists of reducing the public deficit through the reduction of public services and benefits granted to the people, achieving the deflation of expenses and increasing the payment of taxes by individuals.

However, the austerity policy is required by the International Monetary Fund (IMF)in which, as previously stated, consists of reducing public spending in order to pay debts, consequently, it is a rigorous policy that limits private and public consumption.

See also Minimalist and Asceticism.

The word austerity is of Latin origin austeritesmade up of 2 components: austerus meaning “difficult or rough” and the suffix itas which expresses “quality”.