Mixed Economy. An economic system in which both the government and the private sector play important roles with regard to production, consumption, investment, and savings.
Geoffrey Chaucer was born in London sometime between 1340 and 1344 to John Chaucer and Agnes Copton. John Chaucer was an affluent wine merchant and deputy to the king's butler. Through his father's connections, Geoffrey held several positions early in his life, serving as a noblewoman's page, a courtier, a diplomat, a civil servant, and a collector of scrap metal.
English author and politician Jeffrey Archer is born. Jeffrey Archer, bestselling novelist and politician, is born in Somerset, England. Archer attended Oxford and later studied in the U.S. In 1969, he was elected to the House of Commons, the youngest member of Parliament elected that year. But in 1974, financial disaster struck when an investment went bad.