This paper considers educational technology in the light of both rationalist and existentialist theory, arguing that the predominance of rationalism in educational technology may be a dangerous tendency. Existentialist theory is first considered as a way--albeit with limitations--to begin examining educational technology from an ethical standpoint. It is argued that to the extent that educational technology seeks a fully rational existence rather than a full existence, it is morally indefensible. It is suggested that educational technology needs to be examined as a moral issue, and a statement of ethics needs to be developed which: (1) seeks to understand the full implications--negative, positive and otherwise--of educational technology; (2) seeks less to control learning than to allow it; and (3) seeks learning in all aspects, i.e., mental, physical, and spiritual. (7 references) (EW)