AFAICT Algebraic Effects are a way of encoding conditions into a static type system. The idea of signaling a condition and passing a continuation is not the new

AFAICT Algebraic Effects are a way of encoding conditions into a static type system. The idea of signaling a condition and passing a continuation is not the new part (as you've noted), it's the _algebra_ part, where a type system can check at compile time that these conditions that a piece of code calls are implemented by the context it is called in.