profligacy

Definition

The state of being recklessly extravagant, wasteful, or overindulgent in the use of resources, especially money.

Etymology

Derived from the Latin 'profligatus', meaning 'ruined' or 'dissolute', the term entered English in the 17th century to describe someone who has abandoned restraint or is recklessly wasteful.

In the news

The word is used to describe the irresponsible or excessive government spending during the mining boom years, which the author argues should have been invested in productivity rather than squandered.

A valuable lesson in why religion and politics don’t mix

SMH.com.au

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