The word “avarice” comes from the Old French term “avarice,” which itself derived from the Latin word “avaritia.” “Avaritia” is based on “avarus,” meaning “greedy” or “covetous.” This Latin word is believed to have its roots in the Proto-Indo-European root *avÄ“-, meaning “to desire or crave.” Over time, “avarice” came to specifically refer to extreme greed for wealth or material gain.