  It has been known since the work of Duskin and Pelletier four decades ago
that KH^op, the category opposite to compact Hausdorff spaces and continuous
maps, is monadic over the category of sets. It follows that KH^op is equivalent
to a possibly infinitary variety of algebras V in the sense of Slominski and
Linton. Isbell showed in 1982 that the Lawvere-Linton algebraic theory of V can
be generated using a finite number of finitary operations, together with a
single operation of countably infinite arity. In 1983, Banaschewski and Rosicky
independently proved a conjecture of Bankston, establishing a strong negative
result on the axiomatisability of KH^op. In particular, V is not a finitary
variety--Isbell's result is best possible. The problem of axiomatising V by
equations has remained open. Using the theory of Chang's MV-algebras as a key
tool, along with Isbell's fundamental insight on the semantic nature of the
infinitary operation, we provide a finite axiomatisation of V.
