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Webster 1828 Edition

Noun.

Lavishness; prodigality; the act or practice of expending what is valuable without necessity or use.

wastefulness ‎(countable and uncountable, plural wastefulnesses)

imprudent or excessive expenditure or the waste of resources
- 2011 October 29, Phil McNulty, “Chelsea 3 - 5 Arsenal”, in BBC Sport:
  Arsenal paid the price for that wastefulness when Chelsea took the lead after 14 minutes. Mata was afforded to much space by Santos and when the ponderous Per Mertesacker missed his cross Lampard timed his arrival perfectly to head past Wojciech Szczesny.