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

The Definition of Economy

Word Studies

Wuest’s Word Studies from the Greek New Testament

On 1 Timothy 1:4:

The word “edifying” is the translation of oikodomian, “edification.” The correct reading is oikonomian, made up of oikos, “house,” and nomos, “law,” the compound word meaning “household economy,” in the sense of the administration of the affairs of a household. The word here refers to the scheme or order of salvation as devised and administered by God, the method of operation of God’s salvation in the life of the believing sinner. The words, “which is in faith,” speak of the fact that faith is the sphere or element in which this salvation operates. Thayer in his lexicon offers the following translation: “which furnish matter for disputes rather than the (knowledge of the) dispensation of the things by which God has provided for and prepared salvation, which salvation must be embraced by faith.” (2: 28)

On Ephesians 1:10:

The purpose God had in mind is given us in the words, “that in the dispensation of the fulness of times, etc.” The preposition is eis, “with a view to,” indicating what direction the purpose took. The word “dispensation” requires some study. It is not preceded by the definite article. The word is oikonomia, which is made up of oikos, “house,” and nomos, “law.” The compound word means, “the management of a household, or of household affairs, the management, oversight, administration of other’s property, the office of a manager, overseer, stewardship.” Thus, it speaks here of an administration by God of a certain period of human history designated as “the fulness of times.” Our word “dispensation,” used in Bible teaching nomenclature, refers to a certain period of time marked by a certain method in which God administers the affairs of mankind, such as the dispensation of grace, etc. It does not have that meaning here. Instead of referring to a dispensation itself, it speaks of the method by which God administers the particular time referred to in the words “the fulness of times.” (1: 44-45)

On Ephesians 3:9:

“Fellowship” is oikonomia, “administration, dispensing technique, stewardship.” It was given to Paul to bring to light the arrangement, the way this mystery was administered, namely, the admission of the Gentiles on equal terms with the Jews. (1: 84)

On Ephesians 3:2:

The word “dispensation” is oikonomia, made up of oikos, “a house” and nomos, “law,” thus, “the law of the house.” The word speaks in general of the oversight, management, or administration one has over something. Paul was given the responsibility of having oversight or management over the grace of God in the sense that he was to administer it in its publicity. He was given the revelation of the grace of God and the responsibility of properly preaching and teaching it. This grace given Paul for the Gentiles, he defines in verse 6. (1: 81)

On Colossians 1:25:

“Dispensation” is oikonomian, made up of oikos, “house,” and nomos, “law,” namely, the law of the household, the method of administrating the household. It speaks of a house-steward, one to whom is given the responsibility of administering the laws regulating the proper conduct of affairs in the household. Here the meaning is that of stewardship. Paul was given the responsibility of preaching the Word of God and seeing to it that it was guided rightly in its initial impact upon the Roman Empire. (1: 192)

Wuest, Kenneth. Wuest’s Word Studies from the Greek New Testament. 3 vols. Grand Rapids: Wm. B. Eerdmans Publishing Company. 1973.

Vine’s Expository | Wuest’s Word Studies
Vincent’s Word Studies | Interpreter’s Bible
Today’s Dictionary | New Bible Dictionary

Translations | Definitions | Word Studies