What is Dispensationalism (guest post from James Quiggle)

Dispensationalism views the world as a household run by God. Every household is run in a particular way, which we might call an “economy.”

From time to time God changes his economy—the way in which he runs his household—as human civilization develops. Those different economies are called “dispensations.” For example, we can see God ran his previous economy, the dispensation of the Mosaic Law, different than the way he runs his present economy, the dispensation of the NT church.

Dispensationalism as a theology is defined by three basic beliefs.

1. The consistent application of the Literal hermeneutic (method of interpretation) to every Scripture and every doctrine. (In contrast, Reformed theology does not apply the Literal hermeneutic to eschatology—end times prophecy—but interprets by allegory or spiritualizing.)
2. The NT church is not a new Israel, but a different people group in God’s plans. Dispensationalism believes God has a continuing plan for national ethic Israel and a different (but in some ways related) continuing plan for the NT church. (In contrast, Reformed theology believes the NT church has become the new Israel and God has transferred to the NT church all the promises he made to national ethic Israel, most now to be fulfilled spiritually, not literally.)
3. The purpose of God in the world is his own glory. In contrast, Reformed theology, while it believes in God’s glory, believes God’s purpose in the world is salvation. Dispensationalism believes God gets glory not only from salvation but also from his justice on unsaved sinners, and how God leads his saved people in the world to victory over sin.

That is the basic outline.