Parsimony

Parsimony refers to the principle or quality of being frugal, stingy, or excessively unwilling to spend money or resources. In a broader sense, it can also denote a preference for simplicity in explanations or theories, particularly in scientific contexts. The concept emphasizes the avoidance of unnecessary expenditure or complexity.

Parsimony meaning with examples

• Despite his great wealth, his parsimony was infamous among his friends, as he would often refuse to cover even the smallest expenses during outings, much to their frustration and confusion.
• In the realm of scientific research, parsimony plays a crucial role; researchers aim to develop theories that provide comprehensive explanations without introducing unnecessary variables, adhering to Occam's Razor.
• Her parsimony in spending was evident when she meticulously negotiated every price, ensuring she always received the best deal, prompting her friends to joke that she could teach a master class in saving money.
• The company's policy of parsimony during the financial crisis meant severe cutbacks on marketing and staff welfare, causing unrest among employees, who felt undervalued and overworked.
• Though investors often praised the startup's parsimony in its operational budget, others criticized it for lacking ambition, stating that ambition and bold spending could be key to innovation and rapid growth.