Austerity – Definition


austerity, [aw-ster-i-tee], noun

Austerity reflects the direct imposition of rule by finance capital to ensure its profits at the expense of wages, pensions and benefits for the working class.

Austerity is one of the concrete ways capitalism and white supremacy manifest themselves against the people. Austerity is a term used to describe policies that aim to reduce government deficits by budget cuts and tax hikes on the poor. These budget cuts attack education and public health first and foremost, as well as access to housing water, food, and clean air, while increasing spending on wars, police repression, and prisons.