The word "dispensation" is found several times in the pages of our English Bible and is a translation of the Greek word "oikonomia." This word, strictly speaking, means "house order." It might be translated "administration," "order," or "stewardship." In each successive age, God gives to men of faith a certain stewardship, or makes known to them a certain order or administration, in accordance with which they are responsible to behave. A dispensation then is a period of time in which God is dealing with men in some way in which He has not dealt with them before. Only when a new revelation from God is given, does a dispensation change. Moreover, there may be degrees of revelation in one dispensation; all, however, having to do with a fuller unfolding of the will of God for that particular age. This was very definitely true in the dispensation of law, from Moses to Christ. We have the various revelations: of Sinai, both the first and second giving of the law; then added instructions during the wilderness years; the covenant with David; and the revelations given to the prophets. The circumstances in which God's people were found changed frequently during this age of law, but the dispensation itself continued from Sinai until Jesus cried, "It is finished." It is important to have this in mind, otherwise the vast scope of an ever unfolding dispensation may be lost sight of, and one might get the idea that every additional revelation of truth in a given age changed the dispensation, whereas it only enlarges it.
Henry Allen "Harry" Ironside (October 14, 1876-January 15, 1951) was a Canadian-American Bible teacher, preacher, theologian, pastor, and author.
Ironside was one of the most prolific Christian writers of the 20th Century and published more than eighty books and pamphlets, many of which are still in print. As an editorial reviewer wrote of a 2005 republication, "Ironside's commentaries are a standard and have stood the test of time."
I recommend this short but oh so good book to all dispensationalists. It gives solid refutation to the ultra dispensationalists incorrect teachings. He gives clear and succinct refutation to their erroneous claims. A great read and one that will help strengthen those who are not hyper in their dispensational understandings.