prodigality

From Old French prodigalite, from Late Latin prodigalitas

prodigality (countable and uncountable, plural prodigalities)

1. Wasteful extravagance.
   • 1922, Ben Travers, chapter 2, in A Cuckoo in the Nest‎:

     Mother […] considered that the exclusiveness of Peter's circle was due not to its distinction, but to the fact that it was an inner Babylon of prodigality and whoredom, from which every Kensingtonian held aloof, except on the conventional tip-and-run excursions in pursuit of shopping, tea and theatres.

2. Lavish generosity.