Why Does Royalty Still Exist in the 21st Century?

The first lady draws controversy for briefly embracing the Queen of England.

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Responding to this controversial incident, in which first lady Michelle Obama gave the Queen of England a brief hug, Robert Schlesinger writes: "Democracy has flourished around the globe in the last couple of decades, but we still worry about ... the Queen, hereditary monarch of England. (And that's not even to mention the royal princes running Saudi Arabia who have invested in them the unfortunate combination of silly tradition and actual power.)" Why does royalty still exist in the 21st century? Will it vanish by the 22nd century? If so, how will it meet its demise? Post your thoughts.

Previously: Is Obama's Cigarette Tax Wrong?