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The hermeneutic circle, which claims that the meaning of the parts is dependent on the meaning of the whole and vis versa, fails to recognize the most important aspect of the interpretation process, namely that there must be one who is doing the interpreting. Meaning is not a relation between the parts and the whole of a single object, but rather a relation between an object and a subject; between the interpreted and the interpreter. Meaning is not an objective fact, but a subjective interpretation. In other words, we do not discover meaning, but ascribe meaning.
This is by no means, however, solely an individual process. Meaning is a product of social interaction and conflict--it is a social construct. As children, we are "socialized" to the collective meaning which our particular society ascribes to the various aspects of our social worlds, such as things and ideas: "That is bad/good," "This is a dog," etc. However, I need not accept, conform to, or even have knowledge of social definitions in order for something to have meaning for me.
Take for example my interpretation of Husserl's "Philosophy as Rigorous Science." I don't have to recognize this as a piece of philosophical literature for it to have meaning for me. I don't have to know the basic ideas which organize the whole, nor do I have to know the meaning of any of the parts. I can ascribe to it any meaning I wish (theoretically). Without having read it, my interpretation of it would most likely be far different than Husserl's or the rest of society's, but it would have meaning for me nonetheless. It may be interpreted merely as a meaningless object of my perception, but this is a type of meaning in itself. As I read its parts, and eventually analyze its whole, my interpretation would most likely come closer to that of the general population of Husserl readers. Its meaning changes as I study it more and gain a better understanding of its contents. This process is also never complete. I can read Husserl over and over again, gaining a better understanding each time and refining the meaning it has for me. Likewise for society as a whole. Meaning is fluid and contestable.
Therefore, as discussed by Professor Martin, interpretation must begin with your own prejudices. Every interpretation is from a particular point of view and, therefore, relative to the interpreter's accepted system of values, which are, in turn, inevitably grounded within a socially constructed system of meaning. It is irrelevant whether these prejudices limit or blind interpretation. What is important is that the interpretation has meaning for the interpreter. Meaning is not dependent on objective truth.