I think there's more to it than being cyclical. We have experimented with a lot of styles over the centuries and we have arrived at a situation where many of them have been absorbed into the mainstream.

For a person alive today, there is just an immense repertoire of clothing styles to choose from. If you look at the crowd in a reasonable metropolitan street you'll probably see most clothing and hair styles of the last 100 years around, at least.

I guess there are only so many ways to arrange a piece of cloth with some holes in it.