The Pyramid manual succinctly explains the difference between a library and a framework:

A framework differs from a library in one very important way: library code is always called by code that you write, while a framework always calls code that you write. Using a set of libraries to create an application is usually easier than using a framework initially, because you can choose to cede control to library code you have not authored very selectively. But when you use a framework, you are required to cede a greater portion of control to code you have not authored: code that resides in the framework itself.