I've seen a number of people try to distinguish their "literal" interpretation from a "literalistic" interpretation of Scripture (e.g. Vanhoozer in "Is There a Meaning in this Text?"). What is the difference between these two approaches? Are there interpreters who hold to a "literalistic" hermeneutic? Or is the naming of it simply an attempt to differentiate what a "literal" reading is not?
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Vanhoozer answers your question somewhat himself in Is There a Meaning in the Text? (at least from his perspective). He states (emphasis added and comments in brackets added by me):
There are two things I would qualify Vanhoozer's statement with:
First, his use of paralleling "formal" versus "dynamic" translation to his "literalistic" versus "literal" interpretation is problematic. A formal translation attempts to inject as little interpretation into the target language as possible (there is always some interpretation, simply in selecting which word in the target language best communicates what the original language had), whereas a dynamic translation is more free in trying to include an interpretation into the language of the target translation, even to the point of using a phrase that completely obscures what the original words might have been.
In contrast, both a literalistic and literal interpretation are still chiefly interpretations. The literalistic theoretically does not seek for any additional symbolism beyond the straight meaning of the words themselves—I say "theoretically," because I do not know anyone in his or her right mind who would ever argue, for example, that Christ was literally a door, that is, "a movable, usually solid, barrier for opening and closing an entranceway, cupboard, cabinet, or the like, commonly turning on hinges or sliding in grooves". A literal interpretation more readily allows for other layers of symbolism to a statement, which leads to:
Second, my own understanding of a literal interpretation (a.k.a. historical-grammatical interpretation) of Scripture is that:
It is #6 that most distinguishes a literal interpretation from others. A truly literalistic hermeneutic would ignore aspects of reality and authorial context/intent to maintain (whereas allegorical does likewise, but ignoring different aspects... this is essentially the last point of Vanhoozer in the quote I gave).
Honestly, I do not know anyone that truly holds to a pure "literalistic" hermeneutic as described, but there are those who tend more toward that than not. More common is the accusation from allegorists that literal interpreters are not being literalistic in all their interpretation (which shows ignorance in understanding what a literal hermeneutic is). So in short, your final question is correct if converted into a statement:
Disclaimer: I consider myself to hold to a literal [not literalistic] hermeneutic.