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impoverishment (n.)

1550s, from Anglo-French empoverissement, from empoverir; see impoverish + -ment.

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Definitions of impoverishment from WordNet

impoverishment (n.)
the state of having little or no money and few or no material possessions;
Synonyms: poverty / poorness
impoverishment (n.)
the act of making someone poor;
Synonyms: pauperization / pauperisation
From wordnet.princeton.edu