Daniel 2 also mentions four kinds of metal: gold, silver, bronze, and iron, representing four kinds of authority and glory. Gold is the most honorable one, silver is less honorable than gold, bronze is less honorable than silver, and iron has no honor but is solid and strong. This means that during the Babylonian age, the age of gold, the monarchs were not only dictatorial but also honored by the people. Later, the monarchs received less honor during the times of Medo-Persia and of Greece. Then, at the time of the Roman Empire they received even less honor because there was a senate with great authority. For example, Augustus did not install himself but was installed by the senate to be the Roman Caesar. This means that although the Roman Empire was very powerful, it did not have much honor; hence, it is iron. After the iron, what followed was something partly of iron and partly of clay. This means that what came out was partly democratic and partly dictatorial, or partly democratic and partly monarchic (constitutional monarchy). Up to this day, countries such as Great Britain, Norway, Denmark, the Netherlands, and Japan still maintain this kind of political system. They still have the establishment of the crown in some form. They [340] are all half-iron and half-clay, having iron and clay mixed together. It is even more so in Communist countries. They honor the people in word but in reality are totally dictatorial. Thus, they are also a mixture of iron and clay, being partly iron and partly clay.

For this reason it is hard, even impossible, to count how long this period of partly iron and partly clay will last. But no matter what, the length of time covered by the feet and that covered by the legs are more or less the same. At this point in history, we should be at the upper part of the feet of the great human image. The great human image that Nebuchadnezzar saw begins with the head of gold, that is, the Babylonian Empire, and ends with the ten toes, that is, the ten nations that will be united to form the restored Roman Empire (Rev. 17:12-13). According to the prophecy of the Bible, and according to the history and situation of the world, although the Lord Jesus may not come back within the next few years, the time should not be too far away.

The Dispensation of the Age of Grace

Concerning these four ages, it is hard to ascertain the number of years of the third age, the age of grace. The reason is that the length of time between the sixty-two weeks and the last week is a mystery. The interval between the sixty-two weeks and the last week is the age of grace. This age lasts from the calves, which are below the knees, to the toes of the great human image. This period of time is difficult to calculate. Concerning the head, the breast and the arms, the abdomen and the thighs, and the two legs of the great human image, history has already demonstrated clearly that they refer to the four empires—Babylon, Medo-Persia, Macedonia-Greece, and Rome. In particular, the two legs refer to the Roman Empire. In the Bible iron signifies authority (Rev. 12:5) and denotes dictatorship or autocracy. After iron ended, clay has been rising gradually. Clay signifies democracy and the rights of the people, because man was created by God with the dust of the earth. For people to have rights is related to clay. Up to the present, the presidents of the United States have strongly advocated human rights. This means that they preferred to have a great amount of clay. However, the Communist countries prefer to have a great amount of iron, so they are countries with “iron curtains.” This is the mixture of partly iron and partly clay, yet the two “will not cleave to one another” (Dan. 2:43). Not [341] only is it hard to calculate the years in this period, but this period itself is even a mystery.

The Four Dispensations 
in God’s Economy

The four dispensations in God’s eternal economy—the dispensation of the patriarchs, the dispensation of law, the dispensation of grace, and the dispensation of righteousness—in their practical carrying out are actually four periods. Hence, the word dispensation is really hard to understand according to its literal meaning, and it is even more difficult to understand when used in theology. Therefore, practically, it is best to use the word age. Accordingly, the dispensation of the patriarchs is the age of the patriarchs, the dispensation of law is the age of law, the dispensation of grace is the age of grace, and the dispensation of righteousness is the age of righteousness, the age of the kingdom.

GOD’S ECONOMY 
BEING GOD’S HOUSEHOLD ADMINISTRATION

From the preceding paragraphs we can understand that oikonomia is God’s household administration. In brief, it is God’s administration. Ephesians 1:10 says, “Unto the economy of the fullness of the times”; this means “unto the administration, the household administration of God, of the fullness of the ages.” God’s administration or household administration is an arrangement in God’s house. From this we see that it is best to translate this word into economy, the anglicized form of the Greek word oikonomia.

The cultural history of the whole world can be said to have been recorded in the Bible, because everything was created, arranged, and ordained by God. For example, we can see from the feet that are “partly of iron and partly of clay” that a long time ago the Bible referred to democracy. This helps us to understand the meaning of the Chinese term ching lun. When we describe someone who is full of plans, intentions, and arrangements, we say that such a one is “filled with ching lun.” Regrettably, such an expression does not exist in the English language. Hence, in the English Recovery Version we use the word economy. Other English versions use dispensation instead of economy. For instance, the American Standard Version uses dispensation in Ephesians 1:10 and 3:9. Such a rendering does not [342] clearly express the original meaning of the word and makes it hard for people to understand.

After a thorough study of human history, culture, and language with its usage, Webster’s Dictionary was compiled. In this dictionary there are many definitions for the word dispensation. One of the definitions says that this word refers to “a divine ordering and administration of worldly affairs,” and another definition says that it refers to “a period of history during which a particular divine revelation has predominated in the affairs of mankind.” This means that there is an administration in every age or period, and the age itself can be referred to by the administration in that age. Therefore, in God’s economy there are the dispensations, or arrangements, of the age of the patriarchs, the age of law, the age of grace, and the age of righteousness.

THE CONTENT OF GOD’S ECONOMY

We have already seen what God’s economy is, and we have also seen the dispensations of God in His economy in four ages. Moreover, we understand that God’s economy is God’s household administration. Now we will go on to see the content of God’s economy. Ephesians 1:9-11, Ephesians 3:9-11, and 1 Timothy 1:4 are all concerning God’s economy. Not only do we need to be familiar with these verses and their contents so that we may fully know the truth contained in them, but we also need to be constituted with this truth by constantly pondering over and being exercised in these verses in order to be able to further explain and preach this truth to others.

God’s Economy Beginning with Adam 
and Concluding with the New Jerusalem

A person who serves the Lord must have a vision. The vision of God’s economy has a beginning, a process, and a conclusion. The vision of this economy began with Adam, passes through at least seven thousand years, and will conclude with the New Jerusalem, that is, with the coming of the new heaven and the new earth.