Here's another way to say the general idea, by way of example. Secretly, list is "the" exemplary universal monoid. Given any `a`, then `list a` gives you the free monoid generated by `a`, with composition given by `++` and the identity given by `[]`. Now, let's say you have some `a` such that you're able to come up with a function `ev : list a -> a` that's a monad algebra (i.e., it satisfies the two axioms given by yccs27). Then you're able to conclude that `a` is a monoid(!) and you can extract the monoid structure in the following way: `\ (x y : a) -> ev [x, y]` is the binary operation and `ev []` is the unit. (In particular, `ev` must be some `list.fold`.)

I called it `ev` because it's an evaluator/interpreter. To be able to write such a `m a -> a` function, `a` needs to have the same kind of structure that `m` is somehow representing, and you need to be able to map the operation that `m` "contains" to corresponding operations for `a`.

This is that business about free monads being useful for organizing how you write interpreters I believe.