“We’re looking, of course, at ways to extract payments from the consumers of our news — micro-payments, subscriptions, memberships, licensing, even voluntary donations,” Bill Keller, executive editor of The Times, said last week in a speech at Stanford University.

Time Inc. EVP John Squires used strikingly similar language in a recent statement about figuring out how to “save magazines”: these guys are busy scratching their brains about how to “get a payment from a consumer.”

So what’s missing here? How about any discussion of how to actually provide better value to the consumer? Or perhaps how to reach consumers in the new landscapes they’re inhabiting? Nope. We don’t hear much about that. It’s all fire and brimstone about how consumers have the audacity to skim headlines to absorb the news (did these guys think people read newspapers cover to cover when they come on paper?) or how Google dared to invent a way to find stuff you were looking for on the internet easily. Serving customers better value for less cost? The nerve! That’s just downright sleaz… oh wait, that’s one of the fundamental tenets of business.

This is symptomatic of a larger disease going on in business that Bob Sutton describes astutely in a piece on Why Management is Not a Profession. Business schools teach future management that the game is almost solely about “extracting value.” Mr. Keller and Mr. Squires apparently both paid attention in class, and they’re not the only ones. This model reveals capitalism in its ugliest form — an elaborate shell game in which value is artificially inflated to harvest more payment from consumers, who often have poor alternatives to forking over that $0.10 carriers tell them is reasonable cost to send 160 characters of data, or who live in areas monopolized by providers who decide 40 GB of data at the same price as the previous unlimited plan is completely logical.

If these MSM goons want to save their businesses they’d better get schooled in how to make themselves relevant to the consumers they so desperately want to extract more value from, because at the moment it’s entirely logical to sympathize less, not more, with their plight.