  We argue that logical semantics might have faltered due to its failure in
distinguishing between two fundamentally very different types of concepts:
ontological concepts, that should be types in a strongly-typed ontology, and
logical concepts, that are predicates corresponding to properties of and
relations between objects of various ontological types. We will then show that
accounting for these differences amounts to the integration of lexical and
compositional semantics in one coherent framework, and to an embedding in our
logical semantics of a strongly-typed ontology that reflects our commonsense
view of the world and the way we talk about it in ordinary language. We will
show that in such a framework a number of challenges in natural language
semantics can be adequately and systematically treated.
