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gouge (n.)

mid-14c., "chisel with a concave blade," from Old French gouge "a gouge" (14c.), from Late Latin gubia, alteration of gulbia "hollow beveled chisel," probably from Gaulish (compare Old Irish gulban "prick, prickle," Welsh gylfin "beak"). Meaning "an imposition, a cheat" is from 1845, American English colloquial.

gouge (v.)

1560s, "to cut with a gouge," from gouge (n.). Meaning "to force out with a gouge" (especially of the eyes, in fighting) attested by 1800. Meaning "to swindle" is American English colloquial from 1826 (implied in plural noun gougers). Related: Gouged; gouging.

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Definitions of gouge from WordNet
1
gouge (v.)
force with the thumb;
gouge out his eyes
Synonyms: force out
gouge (v.)
obtain by coercion or intimidation;
Synonyms: extort / squeeze / rack / wring
gouge (v.)
make a groove in;
Synonyms: rout
2
gouge (n.)
an impression in a surface (as made by a blow);
Synonyms: dent / ding / nick
gouge (n.)
and edge tool with a blade like a trough for cutting channels or grooves;
gouge (n.)
the act of gouging;
From wordnet.princeton.edu