What Does This Socket. Gaierror Mean?

I'm new to python and going through a book, Core Python Applications 3rd Edition. This is the the first example and already I'm stumped with it. Here's the code with the error at the end.

#!/usr/bin/env python

from socket import *
from time import ctime

HOST = ' '
PORT = 21567
BUFSIZ = 1024
ADDR = (HOST, PORT)

tcpSerSock = socket(AF_INET, SOCK_STREAM)
tcpSerSock.bind(ADDR)
tcpSerSock.listen(5)

    while True:
        print 'waiting for connection...'
        tcpCliSock, addr = tcpSerSock.accept()
        print "...connected from:", addr

        while True:
        data = tcpCliSock.recv(BUFSIZ)
        if not data:
            break
        tcpCliSock.send("[%s] %s" % (ctime(), data))

    tcpCliSock.close()
tcpSerSock.close()

Traceback (most recent call last):
  File "tsTserv.py", line 12, in <module>
    tcpSerSock.bind(ADDR)
  File "/System/Library/Frameworks/", line 224, in meth
socket.gaierror: [Errno 8] nodename nor servname provided, or not known

What does this mean?