The current medical/sexologist view is that masturbation is good and it is perfectly healthy. Masturbation is good and is healthy, but it does have its limits and like all good things, masturbation (and sex for that matter) can be come addictive.
Men who masturbate frequently seem to develop certain conditions. They are depressed, fatigued, lack concentration and suffer from male hair loss.
There are currently no serious studies to determine the effects of overmasturbation on the health of men, but it seems obvious a clinical correlation can be found.
Masturbation is the act of self-stimulation for sexual pleasure. People are programmed to be sexual creatures with sexual vitality, but what sets the human race apart from the lower rungs of the food chain is the factoring in of pleasure.
It has been noted that children at very young ages indulge in masturbation usually secondarily because of emotional trauma. It is the feeling of pleasure, self-induced, which the child and adolescent becomes dependent upon. However, this dependency can lead to health conditions later in life.
Masturbation frequently results in penis deformities. A common deformity is peyronies disease which is a bend in the penis. Usually in the vast majority of the cases, the bend curves opposite of the mans dominant hand side, leading one to think about the physics involved in the act of masturbation.
Some groups of individuals, generally from extreme religious backgrounds, believe that masturbation is a disgusting horrible act and subjects the partaker to damnation.
On the other end of the spectrum, lies the complete sexual permissiveness group which believes seminal discharge daily is your created right.
Like most things in life which affect your bodies function, processes and health, moderation is the key.