Hemlines, diamond-encrusted bras, and other dubious yet stylish economic indicators

Victoria's Secret's Fantasy Bra may say more about consumer confidence than you think

Victoria's Secret fantasy bra
(Image credit: (Monica Schipper/Getty Images for Victoria's Secret))

The hemline index

About 100 years ago, when John Maynard Keynes was revolutionizing macroeconomic theory, a lesser-known economist, George Taylor, was promulgating a theory of his own: That the length of women's hemlines move up and down in unison with the stock market. When stocks were high, ladies showed more leg, he said. And when stocks dropped, hems fell accordingly.

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Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.