The former term refers to the fact that stocks on average tend to perform significantly worse in the summer months than in the winter months, the latter term describes the typically very strong advance in stocks just before the turn of the year. (acting-man.com)
The former term he uses as a way to thematize faith, and the latter as a way to thematize the natural fruition of faith in action. (firstthings.com)
But on the whole, there is enough evidence at least to suggest that, if one wants to have both a market economy and democracy, it is better to have the former precede the latter» if you will, to have perestroika before glasnost (it being understood, of course, that Gorbachev had something other than full capitalism in mind with the former term, and something less than full democracy with the latter). (firstthings.com)