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Austerity

From The Austrian Economics Wiki, the global repository of classical-liberal thought

Austerity is a state of reduced spending and increased frugality in the financial sector. Austerity measures generally refer to the measures taken by governments to reduce expenditures in an attempt to shrink their growing budget deficits.[1]

References

  1. "Austerity", Investopedia. Referenced 2013-09-08.

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