What isn't so clear in the above statement is that words often have multiple "objective" meanings. Sometimes the range of meanings can be quite broad, e.g., the word "bar". Sometimes there can just be nuances of differences. Sometimes "objective" meanings take on metaphorical senses within some contexts, e.g., "sleep with" -- does it really mean sleep or sex?
Words do not mean whatever we want them to mean, but they create a range of meanings and we need to select from that range what it may mean within the particular context. Often, even in more literal English translations of the NT, one Greek word may be translated in different ways because the context changes the meaning.
All this is quite true. But it might be misleading, Brian, to use phrases like "we need to select. . .", if such phrases suggest that when multiple meanings for a term occur, then we get to choose which meaning is "right for us." All of us live within our linguistic environments, and the appropriate "meaning" of a term typically recommends itself in specific situations. We don't choose our meanings; the linguistic context we inhabit does that job for us. When multiple meanings of a word exist, the linguistic context indicates to us the meaning that is most suitable to the immediate event. The same is true, I think, of reading the biblical text (as you suggest): the more we know of the linguistic context of a particular writer, the more likely we are to discover a suitable meaning within a text.
But I confess this stuff ain't easy for me to figure out. After several years of studying language and metaphor with the likes of Mark Johnson and George Lakoff, I now have no idea what "meaning" actually means (and neither do they). So much for the benefits of a higher education. (Yes, yes, Scott, I know: just read Peirce and all will become clear).
Tom Pearson