Academia are generally not as intelligent as it may seem. Have no doubt that the professors understand the concepts behind their subject extremely well, but most lack the practical, real-world implementation of those concepts. This is why most companies have college-hire programs designed to retrain these new employees on how to apply the concepts they learned in college to their actual job.
Academia live and work in the ideal world (on campus bubble) where everyone is treated equally, everyone has access to the same quality of services, all services cost the same to each person, and everyone has the same standard of living. Unfortunately equal treatment is an outcome of the strict selection of the college admittance process. The quality of services are centrally controlled directly by the university itself, and there is only one choice to select from. All of the services cost outrageous amounts of money that are funded largely through an unlimited pool of debt from an never-ending flow of students who are required to participate in the programs. Everyone's standard of living is equally set at the "poor college student" level... with the exception of the professors and senior administrators who live rather wealthy life styles away from campus. So at the end of the day the academia view socialistic policies as leading to their students' as well as their own success, and thus incorrectly believe that these policies would work in the real-world.
They are WRONG. The real-world is very, very different than a college campus.