A master's degree is slightly different from a master's degree from a "good school." I've also been pushed to associate with well-educated people, but not necessarily from schools with high tuitions.
He believes that while highly educated people are usually considered to be liberal, they are, in practice, a lot more conservative than they seem. Most are usually only liberal when it comes to personal viewpoints on social issues, viewpoints which have little social impact. Many professions which are usually seen as left-leaning, like university professors, are in fact very conservative when it comes to beliefs and values that they act upon in the workplace.
In my experience, academic leftism is seen as more of a social obligation than a set of deeply-held beliefs. (There are, of course, many exceptions).
This, of course, is one of the reasons that I hate to socialise with my fellow academics.