Arguing against the long-standing belief that Thuc. 3.82.4 refers to words changing their meanings, this article shows that, according to the passage, the way in which people value actions and apply value-words to actions in peace differs from how they value and apply value-words to the same types of actions in stasis. But the meaning of the value-words themselves remains the same in both circumstances. The passage is about neither meaning nor the propagandistic manipulation of language but about the distorting effect of stasis on the moral assessment of actions.