God’s Economy: recovered by Witness Lee, enjoyed by local churches

The Definition of Economy

Word Studies

Throughout the centuries, many scholars have dedicated their lives to researching, translating, and interpreting the Bible. The fruit of their labor exists today in the form of numerous Bible dictionaries, word studies, and exegeses.

Many of these scholars have commented extensively about the Greek word oikonomia. Most have discovered minor differentiations in New Testament usage of the word. Regarding oikonomia, The Interpreter’s Bible points to

a twofold meaning:

(a) the divine plan and purpose for the world, and

(b) the specific office and stewardship to which God calls his specially chosen servants (179)

The first meaning is evident in Ephesians 1:10 and 3:9 and in 1 Timothy 1:4 (see Bible Translations). Vine’s Expository Dictionary of Biblical Words interprets this meaning to be

the arrangement or administration by God. (174)

Wuest defines oikonomia as

the scheme or order of salvation as devised and administered by God. (2: 28)

Witness Lee states that God’s economy is His plan and arrangement, which is

to dispense Himself as the processed Triune God into His chosen people. (God's 9)

The second meaning of oikonomia refers to a divine commission or stewardship entrusted to a servant of God. The apostle Paul writes concerning his stewardship in 1 Corinthians 9:17, Ephesians 3:2, and Colossians 1:25 (see Bible Translations). Vincent defines stewardship as

the office of a steward or administrator in God’s house. (3: 478)

Footnote two for Ephesians 3:2 in the Recovery Version of the New Testament states that

The stewardship of the grace is for the dispensing of the grace of God into His chosen people for the producing and building up of the church. Out of this stewardship comes the ministry of the apostle, who is a steward in God’s house, ministering Christ as God’s grace to God’s household. (Lee 866)

The following excerpts shed much light on the meaning and use of oikonomia.

Vine’s Expository Dictionary of Biblical Words

Wuest’s Word Studies from the Greek New Testament

Word Studies in the New Testament (Vincent)

The Interpreter’s Bible

Today’s Dictionary of the Bible

New Bible Dictionary

Translations | Definitions | Word Studies