  We present a straightforward, sound Hindley-Milner polymorphic type system
for algebraic effects and handlers in a call-by-value calculus, which allows
type variable generalisation of arbitrary computations, not just values. This
result is surprising. On the one hand, the soundness of unrestricted
call-by-value Hindley-Milner polymorphism is known to fail in the presence of
computational effects such as reference cells and continuations. On the other
hand, many programming examples can be recast to use effect handlers instead of
these effects. Analysing the expressive power of effect handlers with respect
to state effects, we claim handlers cannot express reference cells, and show
they can simulate dynamically scoped state.
