Dynasty of father’s lavish indiscriminately, losing dollars (7)
I believe the answer is:
pahlavi
'dynasty' is the definition.
Both the answer and definition are singular nouns.
Perhaps you can see an association between them that I don't see?
'father's lavish indiscriminately losing dollars' is the wordplay.
I cannot really see how this works, but
'father' could be 'pa' (pa can mean dad or father) and 'pa' is found within the answer.
This may be the basis of clue (or it may be nonsense).
'of' is the link.
Can you help me to learn more?
(Other definitions for pahlavi that I've seen before include "Family name of the last Shahs of Iran" , "Old characters" .)