Etymology
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elastic (adj.)

1650s, formerly also elastick, coined in French (1650s) as a scientific term to describe gases, "having the property of recovering its former volume after compression," from Modern Latin elasticus, from Greek elastos "ductile, flexible," related to elaunein "to strike, beat out," which is of uncertain origin; according to Watkins from an extended form of the PIE base *ele- "to go."

Applied to solids from 1670s, "having the power of returning to the form from which it is bent, etc., as soon as the applied force is removed." Figurative use by 1859. The noun meaning "piece of elastic material," originally a cord or string woven with rubber, is from 1847, American English.

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device (n.)

c. 1300, devis, "intent, desire; an expressed intent or desire; a plan or design; a literary composition," from Old French devis "division, separation; disposition, wish, desire; coat of arms, emblem; a bequest in a will, act of bequeathing," from deviser "arrange, plan, contrive," literally "dispose in portions," from Vulgar Latin *divisare, frequentative of Latin dividere "to divide" (see divide (v.)).

The basic sense is "method by which something is divided," which arose in Old French and led to the range of modern meanings via the notion of "something invented or fitted to a particular use or purpose," hence "an invention; a constructed tool; inventiveness; a contriving, a plan or scheme."

In English from c. 1400 as "artistic design, work of art; ornament," hence especially "a representation of some object or scene, accompanied by a motto or legend, used as an expression of the bearer's aspirations or principles." Also from c. 1400 as "mechanical contrivance," such as a large crossbow fitted with a crank. From mid-15c. as "a bequest in a will." Since c. 1996 the word has come to be used especially for "hand-held or mobile computing or electronic instrument."

We live in a kind of world and in an age of the world where devices of all sorts are growing in complexity, where, therefore, the necessity for alertness and self-mastery in the control of device is ever more urgent. If we are democrats we know that especial perils beset us, both because of the confusion of our aims and because it is easier for the mob than for the individual to mistake appetite for reason, and advantage for right. [Hartley Burr Alexander, "'Liberty and Democracy,' and Other Essays in War-Time," 1918]
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Brannock device (n.)

standard foot-measuring tool used for determining shoe size, patented 1926 and 1927 and named for its inventor Charles Brannock (1903-1992), son of the owner of a popular Syracuse, N.Y., shoe store.

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spring (n.3)

"act of springing or leaping," late 14c., from spring (v.). The elastic wire coil that returns to its shape when stretched is so called from early 15c., originally in clocks and watches. As a device in carriages, coaches, etc., it is attested from 1660s.

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elasticity (n.)

"the property of being elastic," 1660s, from French élasticité, or else from elastic + -ity.

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Lycra 

elastic polyurethane fiber, 1955, proprietary name (registered by E.I. DuPont de Nemours and Company, Wilmington, Delaware, U.S.) of an elastic polyurethane fiber.

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springy (adj.)

"elastic," 1650s, from spring (v.) + -y (2). Related: Springiness.

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stockinet (n.)

elastic, machine-made fabric used for undergarments, 1824, from stocking + diminutive ending -et.

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elasmosaurus (n.)

giant sea reptile from the Mesozoic, 1868, from Modern Latin (coined by E.D. Cope), from Greek elasmos "metal plate" (from elan "to strike;" see elastic) + -saurus. So called from the caudal laminae and the great plate-bones.

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springboard (n.)

also spring-board, "elastic board used in vaulting, etc.," 1774, from spring (v.) + board (n.1).

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