Dispensationalism
Dispensationalism is a system of literal interpretation that recognizes specific time-frames (or periods of history) where God has given additional revelation and stewardship responsibilities to man. Each of these stages of history, or 'dispensations,' can be marked by a beginning event, increased stewardship responsibility (as a result of the additional revelation being given to believe by faith and obeyed), the failure of man, and a closing event. This system of interpretation stands in contrast to Covenant Theology, in that Dispensationalist also recognize the faithfulness of God regarding His covenants to physical Israel; believing that God specifically chose to work through the nation of Israel and will once establish them according to His Word.
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