Etymology
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betterment (n.)

"improvement," 1590s, from better (v.) + -ment.

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Definitions of betterment

betterment (n.)
a change for the better; progress in development;
Synonyms: improvement / advance
betterment (n.)
an improvement that adds to the value of a property or facility;
betterment (n.)
the act of relieving ills and changing for the better;
From wordnet.princeton.edu