MOOCs (Massive Open Online Courses) are the educational buzzword of 2012. Media frenzy surrounds them and commercial interests have moved in. Sober analysis is overwhelmed by apocalyptic predictions that ignore the history of earlier educational technology fads. The paper describes the short history of MOOCs and sets them in the wider context of the evolution of educational technology and open/distance learning. While the hype about MOOCs presaging a revolution in higher education has focussed on their scale, the real revolution is that universities with scarcity at the heart of their business models are embracing openness. We explore the paradoxes that permeate the MOOCs movement and explode some myths enlisted in its support. The competition inherent in the gadarene rush to offer MOOCs will create a sea change by obliging participating institutions to revisit their missions and focus on teaching quality and students as never before. It could also create a welcome deflationary trend in the costs of higher education.

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We begin by summarising Prasad’s (2018) work on the disconnect between the social purposes of open universities and their achievement. Next, we will revisit the concept of the iron triangle from the 1990s, which explores the three topics access, cost, and quality. How does it apply to distance education conducted with today’s technologies? A distinction made in the 1970s between independent and interactive learning activities helps us pursue this question further. A discussion among open university executive heads from around the world in 2017 sets the stage for the final section, which reflects on the current challenges facing open universities. How should they address the competition from the rapidly expanding online offerings of campus institutions? We review economic models, the use of technology, governance and management arrangements, and teaching. The successful systems conceived by the UK Open University in the late 1960s stimulated the creation of many other open universities. How should they be updated today?