abatement

Part of speech: noun

The act of abating, or the amount abated.

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Usage examples "abatement":

  1. But if we may permit ourselves a larger hope of abatement of the essential evil of the world than was possible to those who, in the infancy of exact knowledge, faced the problem of existence more than a score of centuries ago, I deem it an essential condition of the realization of that hope that we should cast aside the notion that the escape from pain and sorrow is the proper object of life. - "Aphorisms and Reflections from the works of T. H. Huxley", Thomas Henry Huxley.
  2. No warning that an unlawful and an inhuman act will be committed can possibly be accepted as an excuse or palliation for that act, or as an abatement of the responsibility for its commission. - "Kelly Miller's History of the World War for Human Rights", Kelly Miller.
  3. If there are too few hats in the market for the demand, the price will rise, but only for a short time; for in the course of one year, by employing more capital in that trade, any reasonable addition may be made to the quantity of hats, and therefore their market price cannot long very much exceed their natural price; but it is not so with men; you cannot increase their number in one or two years when there is an increase of capital, nor can you rapidly diminish their number when capital is in a retrograde state; and therefore, the number of hands increasing or diminishing slowly, whilst the funds for the maintenance of labour increase or diminish rapidly, there must be a considerable interval before the price of labour is exactly regulated by the price of corn and necessaries; but in the case of a fall in the value of money, or of a tax on corn, there is not necessarily any excess in the supply of labour, nor any abatement of demand, and therefore there can be no reason why the labourer should sustain a real diminution of wages. - "On The Principles of Political Economy, and Taxation", David Ricardo.