Used to describe policies or ideas, not people, as people are rarely described as socialistic. The party's socialistic policies aim to reduce income inequality.
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Negative Connotation
In some contexts, particularly in capitalist societies, 'socialistic' may imply impractical or idealistic notions. His socialistic proposal was met with skepticism.
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Not Communism
Don't confuse 'socialistic' with 'communist'. Socialism allows private enterprise too, unlike communism. Socialistic healthcare seeks to be more inclusive than private models.