"The Hemline Index"
"One of the first individuals to start paying attention to the far-reaching implications of financial trouble was American economist George Taylor, who in 1926 developed a theory that the length of women’s skirts and dresses was directly related to the state of the U.S. economy. Taylor’s hypothesis, which he coined the “hemline index,” postulated that short skirts mean boom times and longer ones equal falling markets.
Since then, his prophecy has proven eerily accurate time and again, most recently in 2008, when Claire Brayford, writing for the U.K. Express, remarked, “Anyone applying this theory to the New York autumn/winter 2008 shows … would predict that we are hurtling towards a recession. Hemlines … were all resolutely below the knee—a clear indication of belt tightening, both fashionable and not so fashionable.” Brayford’s astute analysis of this connection was that “a glimpse of leg gives a sense of independence and confidence; a sweeping skirt is a sign of modesty and austerity.”" ~Mint.com Blog writer Ann Tuck Morgan, 8/13/2010
"For Fall '10, designers — such as Adam Lippes, Peter Som, Michael Kors, and Tommy Hilfiger — swapped out shorter hemlines for longer luxurious lengths. Maxed-out skirts are a sophisticated and refreshing alternative to the tights and minis combo and can be worn both casually or ultra-glamorous." Quoted from FabSugar Blog