devaluation

/dɪˌvæljuˈeɪʃən/

Other forms: devaluations

Devaluation is when the worth of something is underestimated. If nobody appreciates your corny jokes, you might say, "The devaluation of humor in this family is truly tragic!"

You can use the word devaluation for anything that isn't fully appreciated or valued, but it's more often used in an economic context. When a government deliberately lowers the value of its currency, as it compares to other countries, that's devaluation. It's one way to lower the cost of exporting goods, and it sometimes helps repair an ailing economy. Devaluation comes from value, "worth or price," and its Latin source, valere, "be strong."

Definitions of devaluation

1. noun

   the reduction of something's value or worth
   types:

   evisceration

   altering something (as a legislative act or a statement) in such a manner as to reduce its value

   type of:

   decrease, diminution, reduction, step-down

   the act of decreasing or reducing something
2. noun

   an official lowering of a nation's currency; a decrease in the value of a country's currency relative to that of foreign countries
   type of:

   regulating, regulation

   the act of controlling or directing according to rule