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The Greek word economia is found seven times in the Bible. In the King James Version it is translated four times as dispensation and three times as stewardship. Dispensationalism is a system of biblical interpretation which teaches that God deals with mankind in different ways at different times.
During each time period or dispensation, God will give mankind a test, mankind ultimately fails that test, there is then a judgment, but through it all God shows grace to those who trust him by faith.
The system of dispensationalism divides human history into seven dispensations, innocence, conscience, human government, promise, law, grace, also called the age of grace or the church age, and finally the millennial kingdom, the thousand year reign of Jesus Christ on.
The earth.
Dispensationalism teaches the rapture of the church, a seven year tribulation period, and a physical return of Christ to the earth. Dispensational pastors and theologians believe that upon his return Jesus will destroy the armies of the antichrist at the battle of Armageddon, after which he will then set up his kingdom upon the earth which lasts for 1 ,000 years.
During this time of the kingdom God fulfills his land promises to Abraham and the children of Israel. So in the dispensational system there is still a future for ethnic Israel. Two key elements of dispensationalism are that the Bible is to be taken literally and there is a difference between Israel and the church.
This stands in stark contrast to covenant theology which teaches an allegorical method of interpretation along with the belief that the church is Israel. Critics of dispensationalism claim that dispensationalism is a relatively new doctrine in church history, one that originated in the 1800s.
Dispensationalists, however, claim they are simply returning to the viewpoint held by the early church. At this point I believe it is important to mention that there are different forms of dispensationalism and not all those who claim the label agree with one another.
This video is simply meant to be a brief overview so in review here again there are several distinctive elements of dispensational theology. A literal interpretation of the Bible. God works in different ways at different times.
Israel is not the church. The church is not Israel. There is still a future for ethnic Israel. Also there is the belief that the New Testament church began at Pentecost. Also the Holy Spirit did not indwell people in all dispensations, only during the dispensation of the church age.
In times past the Holy Spirit would come upon people, but he might also leave. In the New Testament church you have the indwelling, which is permanent. And then of course finally, premillennial theology that Christ will reign in the future 1 ,000 year period, which occurs after the rapture and tribulation.
Thank you for listening.