parsimony (2009-06-01)

Part of Speech: noun

Pronunciation: ['pah(r)-sê-mo-nee]

Definition: Today's word has a positive meaning, "frugality, husbandry, or economy," i.e. the judicious employment of resources. It also has a pejorative one, "extreme stinginess."

Usage: Today's word usually refers to an excessive frugality: "My husband is so obsessed with parsimony that he won't spend a penny without a discount coupon." However, the philosopher Edmund Burke reminds us to that, "[m]ere parsimony is not economy.... Expense, and great expense, may be an essential part in true economy;" which is to say, keep an eye on the long term.

Suggested Usage: The Law of Parsimony, otherwise known as Ockham's (or Occam's) Razor, is a preference for the simplest explanation (hypothesis) of the largest array of phenomena—Ockham’s Razor cuts off the superfluous. In other words, it is best to explain the most you can in the fewest words. The adjective is "parsimonious" [pah(r)-sê-'mon-i-ês] and the adverb, "parsimoniously."

Etymology: Middle English "parcimony" from Latin parsimonia "parsimony" based on "parsus," the past participle of parcere "to be sparing." The root is probably related to the Greek word sparnos "rare, uncommon" and English "spare." It is also tied to Latin parvus "small" and paucus "few."