One thing about beauty is that we tend to think of it as innate - you're either beautiful or you're not, you are or aren't born that way. If this is the case, then what is the possible point of a beauty contest? If beauty is an innate characteristic, how can there be any competition? One solution to this little contradiction is to say that our assumptions about beauty arc not true, and it is in fact something you do rather that something you are - then there can be a contest, to see who is best at doing beauty.
Another solution occurs if you remember that there are a lot of contests in which innate or genetic characteristics are judged: county fairs, cattle shows. The perfect zucchini or the County's largest cabbage; a prize sheep, a pedigreed dog. In this instance it is the owner or farmer who is really at issue; it isn't the sheep who enjoys the ribbon. I believe in a portion of each solution. I think beauty is something you do. And I think that the women who are parading around in there are being displayed to someone else's glory and profit. You note their sashes do not say "Ms. Jane Doe," but Miss Fresno, Miss Huntington Beach. They are displayed as exemplary products of the economy of their home towns; the County Fair aspect is a bit close to the surface here. And when the blue ribbon winner is selected, her bright smile and perfect proportions will be used to promote all kinds of products; the successful promotion of these products will serve to put even more money into the pockets of a very few already wealthy men.
http://web.archive.org/web/20020205015749/home.earthlink.net/~dawn_atkins/BITF/beauty.html