wastefulness vs improvidence

wastefulness and improvidence both are nouns.

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

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

wastefulness: the trait of wasting resources
improvidence: a lack of prudence and care by someone in the management of resources

Other hypernyms of wastefulness include shortsightedness.

wastefulness (noun)	improvidence (noun)
useless or profitless activity; using or expending or consuming thoughtlessly or carelessly	a lack of prudence and care by someone in the management of resources
the trait of wasting resources