CHAPTER TWO

CONCERNING THE ECONOMY OF GOD

Ephesians 1:10 says, “Unto the economy of the fullness of the times,” and 3:9 says, “To enlighten all that they may see what the economy of the mystery is, which throughout the ages has been hidden in God, who created all things.” In Greek, the word for economy is not hard to comprehend, but its usage in the New Testament is not so easy to understand. This word is used in the New Testament with this meaning only by the apostle Paul. In Luke 16 when the Lord Jesus spoke about the unrighteous steward, He used this word, which in these verses is translated “stewardship” (vv. 2-4). A form of this word is also used in 1 Peter 4:10, where it is translated as “stewards.” However, in these two portions of the Scriptures this word does not bear much significance. Therefore, in the New Testament Paul is the only one who uses this term from the viewpoint of God’s New Testament economy. He used it three times—twice in Ephesians (1:10; 3:9) and once in 1 Timothy (1:4)—with direct reference to God’s New Testament economy.

Although Paul refers to God’s New Testament economy in 1 Timothy, it was still in relation to the church in Ephesus. In 1 Timothy 1:3-4 Paul says to Timothy, “I exhorted you…to remain in Ephesus in order that you might charge certain ones not to teach different things…rather than God’s economy, which is in faith.” Therefore, we can see that the three times Paul uses this word in direct reference to God’s New Testament economy are all concerning the church in Ephesus. He uses it twice in Ephesians, speaking directly to the church in Ephesus, and once in 1 Timothy, speaking in relation to the church in Ephesus. In other words, God’s speaking in the New Testament concerning His New Testament economy is altogether directed to the church in Ephesus. This is very meaningful.

THE DEFINITION OF THE WORD ECONOMY

The Greek word for economy is composed of two words. The [334] first word oikos means “house” or “home,” denoting a household or a dwelling place; the second word nomos means “law.” When these two words are combined together, it means “household law,” and it may be explained further to mean “household administration.” Hence, the word economy means “household law,” “household management,” or “household administration.” Since it is a household administration, it implies an arrangement or a plan. Since the household administration is to enforce the household rules, naturally it has an arrangement with a plan. Since it is an arrangement or a plan, there must also be a purpose.

The Usage of Dispensation 
(“Age” or “Arrangement”) in Theology

When there is an arrangement or a plan, there is a purpose, and this arrangement or plan with a purpose constitutes a household administration. The arrangement of a household administration is mainly for distributing. What does it distribute? It distributes the riches of the family for the family’s use. This word was used in relation to the big families in ancient times, which were similar to big Chinese households composed of a whole clan living together. When a big clan lives together, surely there are household laws and regulations, and surely there is the arrangement of the household administration. This arrangement is mainly to distribute the riches of the family for the living of the family members. This kind of distribution is a dispensing. From the word dispensing comes another word—dispensation, denoting the dispensation of economy. But when this word is used in theology to explain theological doctrines, it is usually understood as “age” or “period.”

The Four Ages (Dispensations) in the Bible

Why is it that in theology the term dispensation is understood as “age”? It is because the dispensation of every period is actually the period itself. According to the record of the Bible, the dispensation of God’s economy can be divided into four great periods. The first period is the dispensation of the patriarchs, the second period is the dispensation of law, the third period is the dispensation of grace, and the fourth period is the dispensation of righteousness executed in the kingdom. In other words, God’s dispensation in the first period was concerning the patriarchs, and it can be called the [335] dispensation of the patriarchs. This age, which was from Adam to Moses, lasted approximately two thousand five hundred years. God’s dispensation in the second period was concerning His dealing with men by the law, and it can be called the dispensation of the law. This age, which was from the decree of the law by Moses to Christ’s incarnation, lasted for about one thousand five hundred years. God’s dispensation in the third period is concerning the application of the grace of Christ, and it can be called the dispensation of grace. This age, which is from the Lord Jesus’ first coming to His second coming, should last for about two thousand years. God’s dispensation in the fourth period is concerning God’s execution of everything according to His righteousness, and it can be called the dispensation of righteousness. This will be the millennial kingdom, which will be from the Lord Jesus’ second coming to the judgment at the great white throne, and will last for one thousand years.

In the old creation God has these four dispensations: the arrangement for the patriarchs, the administration by law, the supply by grace, and finally the execution according to righteousness. The patriarchs, the law, grace, and righteousness are God’s four dispensations (arrangements). Consequently, these four dispensations (arrangements) spontaneously form four ages: the age of the patriarchs, the age of the law, the age of grace, and the age of the kingdom. First was the age of the patriarchs. After the age of the patriarchs was the age of the law. After the age of law is the age of grace. After the age of grace will be the age of righteousness, the age of the kingdom. These ages will last for a total of approximately seven thousand years.

The Bible Revealing the Years of Creation

It is difficult to calculate the number of years since the creation of the heavens and the earth. This is because before the creation of Adam there was another world, the preadamic world. According to the study of geologists, no one knows how many millions of years that world lasted. In fact, it is very hard to have an accurate calculation since the calculations by astronomers also vary. Hence, it is hard to say how many years the world before the creation of Adam lasted.

In the record of the entire book of Genesis, only verse 1 of chapter 1 refers to the preadamic world. This verse says, “In the beginning God created the heavens and the earth.” No one knows how long ago this “beginning” was. Verse 2a goes on to say, “But the earth [336] became waste and emptiness, and darkness was on the surface of the deep.” This indicates that the world at that time was in chaos and had been terminated. No one knows how much time elapsed after the earth had been covered with darkness under deep water before God came in to do the work of re-creation, not creation. Verse 2b says, “And the Spirit of God was brooding upon the surface of the waters.” At this time the Spirit of God was moving and brooding upon the surface of the waters to begin His work of re-creation. God first divided the light from the darkness; then He separated the waters which were under the expanse from the waters which were above the expanse (vv. 3-8). This was still not creation but only restoration. After this, God gathered together the waters under the heavens into one place to form the sea, and He let the dry land appear from underneath the water (vv. 9-10). This also was not creation but only a restoration. After the dry land had appeared, God caused the earth to grow plants. This, however, was not restoration but creation. Thus, God created the plants (vv. 11-13).