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We hire people with all kinds of degrees, but in general prefer to hire people who know about a subject and can write. Very few people who work for The Economist have degrees in journalism.

That's a great question. You probably know that we have argued for abolishing the monarchy. Bill Emmott, our editor between 1993 and 2006, was a particularly keen Republican. In 1994, he argued that monarchy “is the antithesis of much of what we stand for: democracy, liberty, reward for achievement rather than inheritance.” It is “an idea whose time has passed.”

I am more relaxed about the monarchy. The idea of a hereditary institution is at odds with the meritocracy we champion. But the British monarchy is popular and doesn't seem to do any harm. It is a largely symbolic role. For me the most important thing is that real power is with elected politicians.

The high cost of housing, particularly in London, is an outrage. People have to commute vast distances to find something affordable. Productivity is hit because skilled and talented people cannot afford to live there. Worse, it is a largely self-induced problem. Property prices have soared because supply has failed to keep up with demand. If planning regulations were eased and the pace of construction accelerated, the rise in London house prices need not be so absurd.

Our brilliant obituaries editor, Ann Wroe, chooses her subject each week.

We have long championed the legalisation of drugs - a cause that I firmly support and one I intend to keep pushing. Last week we launched Economist Films, a new venture that reinterprets our journalism in video form. One of our first two pilots was on the war on drugs. Tell me what you think of it.