Socialist knocks over fine drop of the hard stuff (5)
I believe the answer is:
pinko
'socialist' is the definition.
(pinko can mean someone with leftwing views)
'knocks over fine drop of the hard stuff' is the wordplay.
'knocks over' says the letters should be written in reverse (I've seen 'knocked over' mean this).
'fine' becomes 'OK' (synonyms).
'drop of the hard stuff' becomes 'nip' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'ok'+'nip'='oknip'
'oknip' reversed gives 'PINKO'.
Can you help me to learn more?
(Another definition for pinko that I've seen is " Left supporter's".)