Abstract
It is tempting to assume that understatement and overstatement, meiosis and hyperbole, are analogous figures of speech, differing only in whether the speaker represents a quantity as larger, or as smaller, than she means to claim that it is. But these tropes have hugely different roles in conversation. Understatement is akin to irony, perhaps a species of it. Overstatement is an entirely different kettle of fish. Things get interestingly messy when we notice that to overstate how large or expensive or distant something is, is to understate how small or inexpensive or close it is, and vice versa. So it may seem, anyway. I propose an account of the two tropes that counts some utterances, in their conversational contexts, as overstatements of a quantity but not understatements of the opposite quantity, and other utterances as understatements only. This account shows why understatement is closely related to irony and overstatement is not. Although overstatement and understatement (or irony) are very different, they are sometimes combined. An understatement of one quantity may be an overstatement of a different one.