Photo Essays

The Recession of 1958

Fifty years ago, after 13 years of post-war growth, the U.S. economy hit its first economic downturn since the Depression. In April, 1958, Life Magazine...

China Rebuilds

To cushion itself against the recession, the Asian giant is investing in one of the most ambitious public-works programs the world has ever seen

Teen Unemployment

The recession has put a damper on the earning power of younger workersPhotographs for TIME by Matt Eich / Luceo

Cheese Curls, Going Once, Going Twice

As consumers seek relief from the recession, auctions for food and other necessities gain in popularity. Photographer Matt Rourke checks out the bidding at a...

Paris Couture: Still Riding High

What recession? That was the mood at the Paris Haute Couture spring, 2008 collections as designers celebrated the glorious excesses of handcrafted clothing and...

Decoding Milan Fashion

In a week that didn't hold many surprises — and with lots of talk of a sky-rocketing Euro and an impending recession — the best fall, 2008 collections focused on...