Reader-response Theory discusses reading in terms of "experience," "transaction," or "relationship." It also recognizes the role the reader brings to the text: as a work of literature barely exists outside the mind of the reader, it is worthwhile to examine the reader's participation. It is perhaps the most honest way to read: it doesn't pretend at the objective analysis that other critical approaches may. It requires me to understand that the way I read is but one mode of reading.
Reader-response Theory also recognizes the impact of reading. While it may focus on what the reader brings to the text, it also does not treat the text as an artifact, sealed in a vacuum. Reader-response Theory fully embraces the reality that the text brings something to the reader. We can be deeply, fundamentally changed by what we read.
We might also recognize the morality a reader brings to the reading experience. I am not an Aestheticist: my interest in literature is not to treat the work of literature as an aesthetic creation devoid of moral meaning. I read as a moral being, and I explore art for its moral meaning. That does not mean attaching the author's morality to the text, as Daniel Green recognizes one shouldn't, but exploring moral meaning in the text. Whatever personal failings a writer has does not detract from my reading of that writer's work (though as I'm writing here of the legitimacy of subjective modes of reading, who am I to say another reader must ignore the author's life?).
My most prominent ethical realities are in my embrace of pacifism and my advocacy for animal rights (I was initially going to call them ethical "stances," but they are not mere poses; they are very deep ways of living and thinking that infuse my everyday life). As a reader, I cannot put those ethics aside (that doesn't mean I can't develop an interpretation separate from those ethics--my point here is the reading experience). As I read Golding's Lord of the Flies, a story which explores human nature and violence, I certainly read it as a pacifist. It would be stupid to think I could set aside my opposition to violence while reading the story.