The Role of Virtue in Multistakeholder Initiatives

This chapter presents a neo-Aristotelian account of stakeholder deliberation, arguing that a range of virtues is needed to ensure that consensus among stakeholders with large power imbalances is based on trust and authentic deliberation rather than zero-sum competitive interactions. We identify three stylized phases of stakeholder deliberation that highlight how the need to cope with vulnerability drives interactions with other stakeholders that, in turn, foster the development of a range of deliberative virtues. In the first phase, involving the acknowledgment of dependence and vulnerability, the virtues of justice, mercy, and benevolence help mitigate stakeholder myopia by enabling weaker voices to be heard. In the second phase, involving the establishment of common ground, the virtue of benevolence plays a crucial role in overcoming differences in modes of discourse by creating trust and goodwill between stakeholders and preventing deliberative processes from devolving into merely self-interested posturing and negotiation. In the third phase, the virtues of justice, courage, honesty, and practical wisdom reduce the risk of decoupling, ensuring that deliberative processes promote the flourishing of diverse market actors.