Well, there are a couple different possibilities here. One would be for him to buy things for himself--this would shift consumption to luxury goods. Another would be to give them to his workers, which shifts consumption to everyday essentials (and, increasingly, middle class goods).
What he's done is shift money toward capital investment, which shifts consumption C from the present to (1+x)C consumption sometime in the future. I'm not sure that's a bad thing--it's all about the time discount rate you're using in evaluating the value of economic decisions.
Whose consumption is also relevant here, but a century from now the benefits of his forsaking consumption will be fairly diffused.
What he's done is shift money toward capital investment, which shifts consumption C from the present to (1+x)C consumption sometime in the future. I'm not sure that's a bad thing--it's all about the time discount rate you're using in evaluating the value of economic decisions.
Whose consumption is also relevant here, but a century from now the benefits of his forsaking consumption will be fairly diffused.