A “new nostalgia” is pervading the fashion world, says the Financial Times. Specifically, the recession has induced a resurgence of seasoned styles as varied as looks from “the 1930s and 1940s,” to “a flurry of lace, frills taffeta and demure Victoriana.” And let’s not forget the Joan of Arc. According to a buyer for Topshop, the high street retailer’s spring 2009 fashions are chock-full of “a more muted, washed-out palette ... and there's a big nod to old English culture.” In other words, the unfamiliar and envelope-pushing is out. Recession chic is all about comforting fashions by way of the tried-and-true.

This “new nostalgia” was especially evident at Sunday night’s Golden Globe Awards, where the majority of Hollywood’s leading women donned floor-length gowns that would have been equally plausible on a red carpet in the 1950s. Few risks were taken; meanwhile, there were muted palettes aplenty. While the migration towards styles that feel familiar is logical given the economic climate, there's something to be said for dressing in a manner that inspires emotion, rather than subdues it. Take, for instance, New York's recent in-bed interview with Marc Jacobs regarding his collaboration with Stephen Sprouse for Louis Vuitton. Of the black leggings adorned with day-glo pink graffiti he’s sporting beneath his Comme de Garçons skirt, Jacobs says, “if you’re looking for something to sort of lift your spirits ... I don’t know, I felt a lot better in these tights today than I would have if they were solid black. And I got a lot more looks coming down the street."