Impoverishment (noun)

1. The state of being poor or lacking in resources.
2. The act of making someone or something poor or lacking in resources.

Origin:

Derived from the old french word 'impovrir' meaning 'to make poor', 'impoverishment' has been in use in english language since 15th century.

Examples:

1. The war caused widespread impoverishment in the country.
2. The economic crisis resulted in the impoverishment of many families.
3. The company's mismanagement led to its impoverishment.
4. The prolonged drought led to the impoverishment of the farmers.
5. The impoverishment of the once-prosperous city was a result of urban decay.