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From The Collaborative International Dictionary of English v.0.48:
Wastrel \Wast"rel\, n. 1. Any waste thing or substance; as: (a) Waste land or common land. [Obs.] --Carew. (b) A profligate. [Prov. Eng.] (c) A neglected child; a street Arab. [Eng.] [1913 Webster] 2. Anything cast away as bad or useless, as imperfect bricks, china, etc. [Obs. or Prov. Eng.] [1913 Webster]