MOOCs could be disastrous for students and professors
MOOCs serve a few purposes: they make tons of money for the schools that offer them; they let wealthy techies who would never dream of putting their kids through a program feel like they are helping The Poors; and they give the education "reform" movement another way to destroy unions.
What they don't do is actually teach students anything.
How do you teach tens of thousands of people anything at once? You don't. What you can do over the Internet this way is deliver information, but that's not education. Education, as any real teacher will tell you, involves more than just transmitting facts. It means teaching students what to do with those facts, as well as the skills they need to go out and learn new information themselves.
But the most common way to assess learning in the MOOCs offered by the largest providers is a single multiple-choice question after approximately five-minute chunks of pre-taped lectures. If I had told my tenure committee that I taught history this way, I'd be in another line of work right now. Anyone who has the slightest interest or expertise in education would never teach this way, even if they were paid to do so.
Despite the obvious problems with assessment, some of the best-known faculty at big-name universities across the United States and around the world have decided to become “superprofessors,” the people whose names are attached to these MOOCs because they do most of the lecturing. While very few of them have publicly discussed the compensation that they may or may not receive for their services, my guess would be that most superprofessors became superprofessors because the chance to become higher-education rock stars got the best of them, as the ones willing to talk publicly about compensation are making little or nothing.
Unfortunately for everyone else in academia, their fame will likely come at a very steep price. From an administrative standpoint, the beauty of MOOCs is that they provide an easy opportunity to drastically cut labor costs by firing existing faculty members or simply hiring poorly trained ones—whom they won't have to pay well—to help administer the class. After all, this way of thinking goes, why should I hire a new Ph.D. when I can get the best professors in the world piped into my university's classrooms?