Hi Honeybun. Your question relating to Ephesians 1:10 won't give you the answer you seek. That reference, as also the word 'dispensation', found in these other verses: 1 Corinthians 9:17; Ephesians 3:2; Colossians 1:25 has another meaning. In these verses, including Ephesians 1:10, 'dispensation' relates to stewardship, administration, management. What you're asking is about those who are called 'Dispensationalists' and their dividing the whole Bible into several times or epochs of God's dealing with His people Israel & also His Church.
Generally, they believe in seven Dispensations in the Bible; namely, Of Innocence, Conscience, Human Government, Promise, Law, Grace, the coming Millennial Kingdom of Christ. But even this number can vary depending how one reads the Bible. My own understanding or application of this is not absolute or even necessary when the whole Bible is read & understood correctly. The point of difference arises when the question is asked, 'is the Bible to be read literally (allowing of course, for various symbols, figures of speech & types) or non-literally (i.e. the prophecies of old & the message itself of the Bible must be read non-literally & applied as such). So for example, when we read of a thousand years in Revelation chap 20, is that a literal or non-literal number and does that time still lie ahead? Or, the promises of God to Israel (concerning land, many descendants, blessings), are they yet to be fulfilled literally (i.e. Israel is still in God's Plan, though temporarily removed because of unbelief), or should Israel be rejected as God-forsaken and the Church (comprising of saved Jew & Gentile) replace them? How you answer just these two questions, will show how you interpret Scripture and possibly your leanings towards dispensationalism or not.
Generally, they believe in seven Dispensations in the Bible; namely, Of Innocence, Conscience, Human Government, Promise, Law, Grace, the coming Millennial Kingdom of Christ. But even this number can vary depending how one reads the Bible. My own understanding or application of this is not absolute or even necessary when the whole Bible is read & understood correctly. The point of difference arises when the question is asked, 'is the Bible to be read literally (allowing of course, for various symbols, figures of speech & types) or non-literally (i.e. the prophecies of old & the message itself of the Bible must be read non-literally & applied as such). So for example, when we read of a thousand years in Revelation chap 20, is that a literal or non-literal number and does that time still lie ahead? Or, the promises of God to Israel (concerning land, many descendants, blessings), are they yet to be fulfilled literally (i.e. Israel is still in God's Plan, though temporarily removed because of unbelief), or should Israel be rejected as God-forsaken and the Church (comprising of saved Jew & Gentile) replace them? How you answer just these two questions, will show how you interpret Scripture and possibly your leanings towards dispensationalism or not.
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