... A single, over-all, everlasting "covenant of grace" is postulated by covenant theology. They represent the mainstreams of both systems, though there are variations in each. The following are the major differences between these two systems of theology. DISPENSATIONALISM AND COVENANT THEOLOGY. DISPENSATIONALISM. After an introduction and overview of the theological systems of discontinuity and continuity, the next six chapters of the book move from discontinuity (Classic Dispensationalism) to continuity (Christian Reconstruction). This study, therefore, makes no claims of being exhaustive. Chafer and Charles Hodge. Dispensational Theology Dispensational theology organizes history and theology around a series of dispensations, which are each different "economies" or arrangements decreed by God. Representative systematic theologies are those of L.S. Covenant Theology; Christian Reconstructionism (Theonomy) So, the view with the most discontinuity is classic dispensationalism, with a very hard distinction between church and Israel. These are both movements that really affect a large swath of the evangelical Church with Covenant Theology affecting so much of the Church in the Reformed tradition and Dispensationalism largely through the first study Bible that came out, The Scofield Reference Bible (that was the only one when I was growing up; my folks had the Scofield Reference Bible). A study of the presuppositions of covenant and dispensational theology is a vast topic. Covenant theology is also divided into three sections, although the three flavors of Covenant theology are less chronological. Following a brief introductory description of dispensational theology this essay will survey, in turn, the essential features of Dispensationalism, its distinctive hermeneutic, its specific theological beliefs, and, finally, its later developments. And the view with the most continuity is Christian Reconstructionism which even adopts Israel’s civil laws as relevant for today. If a label is to be applied to our view, especially over against the labels of dispensational and covenant theology, our view is best captured by the term progressive covenantalism. Dispensational Theology, Covenant Theology, and Christocentric Theology. But I have taken care to represent the two positions accurately in order that the Scriptural evaluation of them will not involve a shooting down of straw men. Each dispensation begins with an offer of blessing by God, and ends with failure by man to meet God's conditions and a resulting period of Divine judgement. A brief comparison of Covenant Theology and Dispensational Theology (A supplement to "Rightly Dividing the Word of Truth") In order to comprehend the entirety of God's revelation to mankind in the Bible, over the years, believers have developed systems or frameworks for understanding the Bible. Foreword The final title in Psalm 45 Publications' Themes in Theology series, Dispensationalism and Covenant Theology, is the most polemic of the four.When I was first introduced to the utter centrality to all of life and reality of Christ and him crucified – the great Just as covenant theology is not most essentially defined by a specific number of theological covenants, neither is dispensationalism defined by a specific number of dispensations. Summary .