Impoverishment

Pronunciation: /ˌɪmˈpɑːvrɪʃmənt/

Impoverishment (noun)

  1. The process of becoming very poor, with less money, fewer resources, and a lower standard of living.
  2. A situation where people or groups lose wealth over time, leading to widespread hardship and reduced opportunities.

Examples

  • Impoverishment spreads when jobs disappear and prices rise.
  • The report warns that impoverishment can increase quickly.