It seems to me that monads and effects are likely best viewed as complementary approaches to reasoning about computational contexts, rather than as rivals. See,

It seems to me that monads and effects are likely best viewed as complementary approaches to reasoning about computational contexts, rather than as rivals. See, e.g., https://goto.ucsd.edu/~nvazou/koka/padl16.pdf https://goto.ucsd.edu/~nvazou/koka/padl16.pdf or https://goto.ucsd.edu/~nvazou/koka/padl16.pdf https://goto.ucsd.edu/~nvazou/koka/padl16.pdf .