The advertizing campaign of grunge slacker aesthetics in the '90s was probably to expand Ritalin use. Speaking as a conservative and one who has been studying the decline of Western civilization, I don't get the baggy pants. What's that all about?
Footnote: Some of the conservative student journalists I wrote with in the '70s and '80s smoked pot and [horrors!] listened to Rock music. Fortunately, we elected Reagan. TWICE!. In '84 it was done to the tune of Bruce Springsteen's "Born in the USA" as I recall. Memories are a little fuzzy. Too many beermares ago.
As for the baggy pants during the 90s, I went to a nerd high school in NYC, and I could never figure why they were in fashion. They just were.
Bruce Springsteen made a big deal about Reagan invoking "Born in the U.S.A." in 1984. Springsteen, is a Democrat, and was pretty upset. You see Springsteen is a "regular Joe," that's why he lives in a mansion in New Jersey.
Modeled after institutional wear (ie. prison togs).