List-monad algebras are monoids (${\mathbf{Set}}^{\mathrm{List}}\cong \mathbf{Mon}$)

An algebra for a monad for the list monad is precisely a monoid. For an action $a$, the identity is $a([])$ and multiplication is $a([x,y])$. The algebra laws force the unit and associativity laws and determine $a$ as ordered multiplication. Conversely ordered multiplication defines a list action. Algebra morphisms are exactly monoid homomorphisms, giving an isomorphism of categories ${\mathbf{Set}}^{\mathrm{List}}\cong \mathbf{Mon}$.