  We consider CSP from the point of view of the algebraic theory of effects,
which classifies operations as effect constructors or effect deconstructors; it
also provides a link with functional programming, being a refinement of Moggi's
seminal monadic point of view. There is a natural algebraic theory of the
constructors whose free algebra functor is Moggi's monad; we illustrate this by
characterising free and initial algebras in terms of two versions of the stable
failures model of CSP, one more general than the other. Deconstructors are
dealt with as homomorphisms to (possibly non-free) algebras.
  One can view CSP's action and choice operators as constructors and the rest,
such as concealment and concurrency, as deconstructors. Carrying this programme
out results in taking deterministic external choice as constructor rather than
general external choice. However, binary deconstructors, such as the CSP
concurrency operator, provide unresolved difficulties. We conclude by
presenting a combination of CSP with Moggi's computational {\lambda}-calculus,
in which the operators, including concurrency, are polymorphic. While the paper
mainly concerns CSP, it ought to be possible to carry over similar ideas to
other process calculi.
