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1. A depressed economy, whether at a personal or national level. 2. The cost-cutting measures taken by a person who is unemployed or underemployed, such as buying cheaper gas or eating at home instead of in restaurants, verb: deconomize 3. Being laid off or having one's income reduced, being 'deconomized', or the act of reducing a labor force through layoffs, plant closures and other draconic cost-cutting measures as a means of saving corporate money
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