lavishness vs wastefulness

lavishness and wastefulness both are nouns.

Word	Noun	Adjective	Verb	Adverb
lavishness	Yes	No	No	No
wastefulness	Yes	No	No	No

As nouns, wastefulness is a hypernym of lavishness; that is, wastefulness is a word with a broader meaning than lavishness:

lavishness: the activity of excessive spending
wastefulness: useless or profitless activity; using or expending or consuming thoughtlessly or carelessly

Other hypernyms of lavishness include dissipation, waste.

lavishness (noun)	wastefulness (noun)
the activity of excessive spending	useless or profitless activity; using or expending or consuming thoughtlessly or carelessly
the quality possessed by something that is excessively expensive	the trait of wasting resources