parsimony

[pahr-suh-moh-nee]
noun
extreme or excessive economy or frugality; stinginess; niggardliness.

Origin:
1400–50; late Middle English parcimony < Latin parsimōnia, parcimōnia frugality, thrift, equivalent to parsi- (combining form of parsus, past participle of parcere to economize) or parci- (combining form of parcus sparing) + -mōnia -mony

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World English Dictionary
parsimony (ˈpɑːsɪmənɪ)
 
n
extreme care or reluctance in spending; frugality; niggardliness
 
[C15: from Latin parcimōnia, from parcere to spare]
 
parsimonious
 
adj
 
parsi'moniously
 
adv

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Etymonline
Word Origin & History

parsimony
early 15c., from L. parsimonia "sparingness, frugality," from pars-, stem of parsi, perf. tense of parcere "to spare, save" + -monia, suffix signifying action or condition.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Grocers will suffer in a new era of parsimony.
Essays are interspersed with vivid poems, haiku-like in their verbal parsimony
  and eloquent in their evocation of time and place.
Science requires more than parsimony to explain how the world works.
He that runs out by extravagance must retrieve by parsimony.
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