Paul Horwich argues for a 'deflationary' account of compositionality, accor
ding to which, '...the compositionality of meaning imposes no constraint at
all on how the meaning properties of words are constituted'. We have arriv
ed at a tentative diagnosis, which is that Horwich fails to enforce several
distinctions that turn out to be crucial. For example, sometimes he puts h
is main conclusion in the way we just quoted but sometimes, even on the fol
lowing page, he puts it like this: 'understanding one of one's own complex
expressions (non-idiomatically) is, by definition, nothing over and above u
nderstanding its parts and knowing how they are combined'. We propose, in w
hat follows, to consider how Horwich's deflationary account of compositiona
lity fares if the distinction between theories of meaning and theories of u
nderstanding is properly attended to. here's how we think it all turns out:
--Horwich is right to claim that compositionality is neutral with respect
to the metaphysics of understanding expressions when 'understanding' refers
to a (merely) dispositional state; but not when it refers to an occurrent
state. --Horwich is right strictu dictu to claim that compositionality is n
eutral with respect to the character of lexical meanings, but only strictu
dictu. Compositionality taken, together with other constraints that semanti
c theories are required to satisfy, reduces the options in the theory of le
xical meaning to a bare minimum. The first part of the paper is about compo
sitionality and understanding, the second part is about compositionality an
d lexical meaning.