[dreish]

It can generate wealth in markets where accurate prices lead to more efficient allocation of the resources needed to produce the good in question.

That's great for physical commodities, but it doesn't take a genius to see that this doesn't do any good with domain names. It takes a committed libertarian to fail to see that, though.

[noonespecial]

A libertarian would think this kind of thing is repugnent as well. The difference is that a libertartian's first response would not be "we should pass a law forbidding this..."

[Kaizyn]

You mean just as speculating in the mortgage securities market has led to economic prosperity? Oh wait...

[falsestprophet]

Investing is not speculating.