In this paper, we explore the interaction between lexical semantics an
d pragmatics. We argue that linguistic processing is informationally e
ncapsulated and utilizes relatively simple 'taxonomic' lexical semanti
c knowledge. On this basis, defeasible lexical generalisations deliver
defeasible parts of logical form. In contrast, pragmatic inference is
open-ended and involves arbitrary real-world knowledge. Two axioms sp
ecify when pragmatic defaults override lexical ones. We demonstrate th
at modelling this interaction allows us to achieve a more refined inte
rpretation of words in a discourse context than either the lexicon or
pragmatics could do on their own.