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Full Idea
What is wrong with the Aristotelian picture (of meaning and reference based on concepts) is that it suggest that everything that is necessary for the use of language is stored in each individual mind, but no individual language works this way.
Gist of Idea
Aristotle implies that we have the complete concepts of a language in our heads, but we don't
Source
Hilary Putnam (Representation and Reality [1988], §2 p.25)
Book Ref
Putnam,Hilary: 'Representation and Reality' [MIT 1992], p.25
A Reaction
Languages must partly work that way. You can't talk without a conceptual storehouse. In a small society I would expect every adult to know the full vocabulary.