To invest in vice can be a sound financial decision, but despite the lure of healthy profits, individuals and mutual funds have been reluctant to invest in this type of stock. After all, who would take pride in supporting the tobacco industry, knowing it sells a deadly product? And what social responsibilities do investors bear with respect to compulsive gamblers who have lost so much money that suicide becomes an attractive option?

Canada the Good considers more than five hundred years of debates and regulation that have conditioned Canadians' attitudes towards certain vices....