The Economy of Salvation is that part of divine revelation that deals with God’s creation and management of the world, particularly His plan for salvation accomplished through the Church. From the Greek oikonomia (economy), literally, "management of a household" or "stewardship". Also called the Divine Economy.
Some theologians view this from a more "transactional" perspective. From this perspective, the work of salvation achieved by Jesus Christ on the cross is interpreted as a price paid to make it possible for us to be forgiven for our sins. His sacrifice paid for our debts and therefore has made payment for our sins - and therefore we are seen as not guilty before God for our sins committed.
The "transaction" could be summarized in this way: God gives the means of salvation through Jesus' sacrifice, and the transaction is complete when accept it through faith and allegiance to Him.
Other theologians view this topic from a more "relational" perspective, using the biblical idea of "covenant" as a framework for understanding God's plan of salvation. From this perspective, God takes the initiative in restoring and reconciling humankind long before any of us could take the step of faith or obedience. The work of salvation was completed in Jesus' death and resurrection, and is now a reality for all humankind, whether they are aware of it or not. It is the goal toward which God's purposes are headed, and this goal will ultimately be achieved.
From the "transaction" perspective, salvation could be expressed in the following: "Jesus paid the price for your sins on the cross, and if you will turn to him in faith and repentance, God will forgive your sins." Those who view salvation from this perspective will say, "I was saved on such-and-such a date."
From the "covenant" perspective, salvation could be expressed in the following: "Jesus died and rose again to accomplish your salvation; all you have to do is accept that you are loved by God and that God has already forgiven your sins." Those who view salvation from this perspective will say, "I was saved on a hill outside Jerusalem about 2000 years ago."
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