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By public accounts, for-profit massive open online courses (MOOCs) are fundamentally changing North American and global education, and for the better. The promises of the MOOC are many: they are said to enable a few excellent professors to teach more students than ever, relieve students of sitting through boring lectures by freeing up time for meaningful and interactive in-class dialogue, allow students to personalize their education with a mix of online and offline platforms, and give the world's poor access to free, high-quality education. This book offers a clear and systematic critique of the promotional hype surrounding for-profit MOOCs and, in its place, puts forward a grounded political-economic analysis of the material world that MOOCs exist within and the power relations that shape them. By doing so, it poses a rejoinder to the claims about the positive effects of for-profit MOOC companies and joins the current public debates surrounding the future of higher education and the role of information and communication technology in it.