Ok, so I am going to disagree and agree with both approaches.
Personally I believe that Tufte's famous ink usage idea is idiocy from the start. This philosophy is one without thresholds or balance. It literally values information density to the point where writing your reports on a grain of rice would be considered ideal. Information density is bad ux if it overwhelms the user or detracts from understanding.
The opposite is also true with minimalism, by systematically removing everything conceivably unnecessary from view, the designer infantilizes the user. While this may appear to be a 'cleaner' and 'simpler' approach it does not bear out in the long term. Users may feel better and more at home initially (or not), but over time it becomes clear how much extra work it is to get anything complex done when each view is a refined minimal nugget of control and information. In other words minimalism is the root cause of many interfaces getting 'in the way' of tasks rather than aiding them.
The real value judgement should exist outside of design itself. The goal should not be to be minimalistic or maximalistic, dense or sparse, but to provide to be readable, understandable and efficient. If the most understandable and efficient way to present your data and controls does not take full advantage of screen space, then quickly consider if taking advantage of that space adds value. If not, the right answer is to allow that screen space to go unused.
If you find that users are overwhelmed by the density of the page, consider removing less used components, or adding more padding and margins; if not there is no reason to do so, and removing components will harm the users ability to be agile.
Every aspect of the design no matter how small should have substantive meaning, controls and information should be placed logically and intuitively, useless controls and information should not exist, just as all useful controls and information necessarily should exist. The design should not hurt ones eyes, or be overly flashy, as users may be using it for extended periods of time. The design must be usable, readable and understandable.
These are much more noble and amiable goals than minimalism or density; and promote a healthy balance between the min-max dichotomy. Targeting one or the other for philosophy's sake is bad philosophy, and leads to bad UX. Do whats best of the user and let the 'isms take care of themselves.