Dispensations

(Proverbs 22:1 KJV)  A good name is rather to be chosen than great riches, and loving favour rather than silver and gold.

My mind is on grace this morning.  I have a friend who is opening a discussion with me about dispensationalism.  It is at the beginning stages but if I am hearing him correctly he is saying that the Old Testament is all about works while the New Testament is about grace.  I am aware of the general statement that we are under grace not works.  My conflict is that I believe that even the Old Testament covenant was dependent on grace.

This verse brings this up from the word “favor” (2580).  The KJV translates it “grace” 38 times and “favor” 26 times.  The NASB goes with “favor” 51 times and “grace” 8.  The point of the concept is that it is a gift given by God not a payoff we have earned.  In reality that applies under the Law as much as the Gospel.

So?  I will continue to be aware of my unworthiness and the free gift of salvation.  I will continue to consider this idea of dispensations but I see it as more a straining after gnats than a deep pool of wisdom.