Cowrie Shells, Bride Prices and Patriarchy
Learning to connect value systems together
When I first began my journey in grassroots economics, I imagined that the creation of community currencies was the ultimate solution—a way to decentralize and bring economic power back into the hands of the people. While community currencies do indeed play an important role in local empowerment, they were just the beginning of a larger process. The real breakthrough came when I realized the importance of creating systems where everyone’s commitments could be honored, exchanged, and fulfilled, creating a virtuous cycle of trust and economic resilience.
Again, for those wondering why I have moved away from focusing on community currencies, it's not an abandonment but a recognition that they were and are an important step. The ultimate goal is to weave together networks of commitments in a way that strengthens the community's socio-economic fabric, much like mycorrhizal fungi connect various resources in nature. You can read further into Grassroots Economics research and progress in commitment pooling - but I think the example below of Cowrie Shells and their guarantee to pay bride prices - becoming a currency covers a lot of the issues - I hope you enjoy the thought process.
Cowrie Shells and Commitments
In many ancient societies, cowrie shells symbolized commitments, especially in the context of dowry systems. (Tangled Roots Herbal) Young women would gather and string cowrie shells, which were used in marriage negotiations and could circulate as currency. These shells weren’t just valuable because they were rare or beautiful—they were valuable because they represented future promises paying bride prices and in turn social and economic transactions(Modern Ghana).
In understanding bride prices across Kenya I found that this system in some way reflects a key step in commitment pooling: you take a valuable promise or commitment, turn it into a fungible unit, and allow it to circulate in a chosen community as a medium of exchange (we call these vouchers on sarafu.network and you can make them yourself). In the case of cowrie shells, people accepted the shells in exchange for goods and services, knowing that there would be future demand for them when it came time for young men and their families to fulfill marriage obligations.
The Risk of a Single Medium of Exchange
However, this single-currency system reveals a risk (as I found in community currencies as well): what happens when the currency becomes detached from the commitments it was meant to represent? When cowrie shells began to be collected by beach trawlers and groups of men and then circulated purely as currency—without any ties to actual marriage arrangements—their value became speculative. At least there are some limits to finding cowrie shells — while in modern economies, when money is printed (or digitally created) without real commitments behind it (like economic output or services), it can lose value and lead to inflation.
This is the risk of relying too heavily on a single medium of exchange. When commitments are reduced to one form of currency, that system becomes fragile. The thing we are using to exchange value (like money or cowrie shells) might no longer represent any real commitments, creating instability and leaving communities vulnerable (Miyami Maldives).
Who Benefits the Most?
In systems where currency is based on commitments, those who have the power to mint the currency or manage those commitments often benefit the most. In the traditional cowrie shell system, a polygamous man with multiple wives and daughters could accumulate significant wealth through dowry payments—essentially "minting" new shells through marriage and having more children. This allowed him to gain more economic power through the creation of new commitments, in this case, his daughters' dowries. (Modern Ghana).
In modern times, the equivalent is the state/banking system, which can mint money and collect taxes. When the state’s commitments—such as military protection or infrastructure—become the sole medium of exchange, they start to dominate the entire economy. This can be dangerous because it centralizes control and narrows the diversity of economic commitments, making the system vulnerable to shocks or imbalances. At worst when these promises of protection become threats of violence - like the famed mafia or even colonial powers - the currency at its core can become a promise of violence used to dominate a population.
In both traditional and modern systems, those who control the minting of currency—whether dowry cowries or state money—often accumulate the most wealth. When commitments are centralized into a single form of currency, it not only amplifies inequality but also weakens the entire system’s ability to withstand shocks.
The Strength of Commitment Pooling
By contrast, commitment pooling as seen in rotating labor associations (ROLAs) offers a more resilient system (you can also create pools on Sarafu.Network) . Instead of relying on a single type of currency or commitment, pooling allows for the direct connection of various types of promises—be it labor, goods, or services. A great natural example of this is mycorrhizal fungi in forest ecosystems. These fungi create networks that connect multiple commitments (nutrients, water) between plants, ensuring that resources flow where needed. The system thrives not because of a single dominant resource but because of the connections between diverse commitments. (Read the Three Sisters meet a Fun Guy)
This is the key difference between traditional systems that rely on one form of currency and commitment pooling: the latter doesn’t depend on a single medium of exchange. Instead, it acts as a nexus point where multiple commitments are linked, creating a stable, adaptable system that can weather fluctuations or failures in any single type of resource or promise.
Building More Resilient Economic Systems
As we build new economic systems, we should strive for diversity in the types of commitments that circulate. Systems that allow for the pooling of commitments—rather than relying on a single currency—are far more stable because they are polycentric, adaptable, and not reliant on any one promise. This kind of system creates a more balanced and fair economy, where multiple forms of value can coexist and support one another.
Ultimately, commitment pooling teaches us that economic resilience comes from the connections we build between different commitments. By nurturing these networks, we can create systems where everyone’s commitments are honored, exchanged, and fulfilled.
Finally, I thank Stephen Demeulenaere for his role in introducing me to the dowry system in Papa New Guinea (amazing video) as well as his pioneering work for so many years in the community and complementary currency field and his important partnership with Bernard Lietaer.