Wasteful, c. — Webster enters it under “wasteful”
1. Full of waste; destructive to property; ruinous; as; wasteful practices or negligence; wasteful expenses.
2. Expending, or tending to expend, property, or that which is valuable, in a needless or useless manner; lavish; prodigal; as, a wasteful person; a wasteful disposition.
3. Waste; desolate; unoccupied; untilled. [Obs.] In wilderness and wasteful desert strayed. Spenser.
Syn. -- Lavish; profuse; prodigal; extravagant. -- Waste"ful*ly, adv. -- Waste"ful*ness, n.
Shades of meaning
Fernald has no entry of its own for wastefulness; he lists it under excess.
He lists it without comment; the entries above explain its neighbors.