I think you are generalizing tad bit too much. There is certainly some subset of intellectuals that is detached from normal people and are riding the high of their academic position. At the same time, in my experience, you will find a lot of compassionate and understanding academics, certainly way more of them than in business.

And there was quite a bit of work put in to make people less compassionate, for example by feeding them the dubious musings of Ayn Rand.