What is the lipstick indicator?

What is the lipstick indicator?

After World War I, Victorian-era prudishness began to melt away as adventurous girls dared to display more calf below their skirts. Flappers bedecked in headbands and short, shapeless dresses characterized the decadence of the Roaring '20s. But women's style shifted following the stock market crash in 1929, and during the Great Depression, hemlines dropped back down toward the floor.
In 1926, economist George Taylor noticed that fluctuating fashion. Like the stock market, the length of many women's dresses also fell with a peculiar synchronicity. Perhaps this hemline index, as Taylor coined it, reflected the grim economy's psychological effect on the public. It wasn't a time for rash celebration and risk taking; instead, the Great Depression called for a return to fiscal modesty. Read More...

http://money.howstuffworks.com/lipstick-indicator.htm