1) another person putting his wants before his needs stemming from a lack of common sense. 2) situation involving one party being screwed for another's gain, commonly financial.
Man 1: Yesterday, my cousin's electricity was shut off since he wasn't paying the bill. This morning he went into debt to buy a $3000 HD television.
Man 2: Retardation... he seems to enjoy being a worthless bum.
Man 1: I have completed every single upper-level course required for my Multimedia Technologies degree and the college says I can't graduate until I take Intro to Windows.
Man 2: Retardation, dude. They just want your money.