You need to go one step further and ask WHO is it bad for. Is it good for us as individuals to spend less, save more, and live a generally less materialistic l

You need to go one step further and ask WHO is it bad for. Is it good for us as individuals to spend less, save more, and live a generally less materialistic lifestyle? Arguably yes. Is it bad for the economy as a whole when all consumers act this way? That's a different question :)