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dissipation (n.)

early 15c., dissipacioun, "disintegration, dissolution," from Latin dissipationem (nominative dissipatio) "a scattering," noun of action from past-participle stem of dissipare "to spread abroad, scatter, disperse; squander, disintegrate" (see dissipate). Sense of "act of wasting by misuse, wasteful expenditure or consumption" is from 1630s; meaning "intemperate mode of living, undue indulgence in pleasure" is from 1784.

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Definitions of dissipation from WordNet

dissipation (n.)
breaking up and scattering by dispersion;
the dissipation of the mist
dissipation (n.)
dissolute indulgence in sensual pleasure;
Synonyms: profligacy / dissolution / licentiousness / looseness
dissipation (n.)
useless or profitless activity; using or expending or consuming thoughtlessly or carelessly;
mindless dissipation of natural resources
Synonyms: waste / wastefulness
From wordnet.princeton.edu