George W. Taylor and the Hemline Index on This Day in History

This Day in History: Industrial Relations professor George W. Taylor was born on this day in 1901. He came up with what is known as the Hemline Index theory. The theory suggests that hemlines on women's dresses rise along with stock prices. In good economies, we get such results as miniskirts (as seen in the 1920s and the 1960s), or in poor economic times, as shown by the 1929 Wall Street Crash, hems can drop almost overnight. Of course this index is almost useless now that many women wear pants.

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