parsimony

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English[edit]

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Etymology[edit]

From Old French parsimonie, from Latin parsimōnia (sparingness, frugality), from parcere (to be sparing).

Noun[edit]

parsimony (uncountable)

  1. Great reluctance to spend money unnecessarily.
    • 1776, Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations:
      Parsimony, and not industry, is the immediate cause of the increase of capital. Industry, indeed, provides the subject which parsimony accumulates. But whatever industry might acquire, if parsimony did not save and store up, the capital would never be the greater.
  2. By analogy from (1), principle of using the least resources or explanations to solve a problem.

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