There’s been a lot of brouhaha about the Annie Liebovitz photo of child star, Miley Cyrus, aka, Hannah Montana, aka Destiny Hope Cyrus, aged approximately 15.   We have to admit, the photo hardly merits all the fuss.  In fact, I’d have to agree with Squidz who summed it up pretty well on a chat board.  Whoever he is.  Yes, Miley is being exploited, but it’s not by Annie Liebovitz.

According to Parade Magazine, (via US magazine), Miley Cyrus earned $18.2 million in 2007.  Quite a packet for a 15-year old.  (By the bye, Parade Magazine has no idea how much Miley made, but their estimate is as good as any.)  Were it $10 million or $50 million, the effect is the same.  On top of this, her accumulated net worth is a whole other kettle of cash.

More important is what Miley is worth to other people.  Purportedly, the Miley Cyrus brand may be valued at as much as $1 billion by Disney and the other stakeholders in Miley Inc.  Or may come to be worth this much if straight line projections hold and Miley never grows up into an autonomous young woman who either wrests control of her empire from Disney, or becomes a skank like Britney and Lindsay, whereupon it all dissolves into a puddle of young adult filth.

The Liebovitz photo isn’t itself inherently exploitative.  What is exploitative is being photographed for Vanity Fair in the first place.  Or making a 15-year old the lynch pin that hundreds of peoples’ livelihoods depend on.  Or a primary factor driving the value of the 1.9 billion outstanding shares of the Walt Disney Co. (DIS:  NYSE) up or down.  Miley reveals in Vanity Fair that she has very young shoulders to carry such an awesome burden.