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What does austerity mean?

Looking for the meaning or definition of the word austerity? Here's what it means.

Noun
  1. Severity of manners or life; extreme rigor or strictness; harsh discipline.
  2. Freedom from adornment; plainness; severe simplicity.
  3. (economics) A policy of deficit-cutting, which by definition requires lower spending, higher taxes, or both.
  4. (obsolete) Sourness and harshness to the taste.
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In this historical context, the director's main aim is to remind the audience of virtues such as coherence, austerity, passion and faith.
The resulting policy of economic austerity caused unrest and demonstrations.
He introduced a series of unpopular economic austerity measures to cope with the country's increasing debt burden.
Mature Himalayan birch trees and Virginia creeper soften the austerity of the brick walls.
His uncanny, unmistakable style crossed Cubist austerity with lush Surrealism.
This rebounds on students, who too have bought into the fiscal austerity mind set.

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