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Paul Ricœur has two terms that neatly sum up this difference between modern contracts and God’s covenants.12 Contracts obey a logic of equivalence, a regime of strict justice in which unerring calculation determines the just measure of commitment in each case. It is the logic of the transaction and of the market, a reciprocal paradigm in which debts must be paid in full, but no more. The logic of equivalence belongs to a view of the world in which every gift is a trojan horse that requires reciprocation sooner or later: “They invited us round for dinner and baked their own dessert; we will have to do the same!” It is the ethics of a Derrida who ruefully acknowledges that “for there to be gift, there must be no reciprocity, return, exchange, counter-gift, or debt.”13 This is an impossible standard that leads him to conclude that the pure gift is impossible and could not even be recognized as such: gifts always fall back into economies of debt sooner or later, a grim reality that leads Terry Eagleton to remark “one would not have wished to spend Christmas in the Derrida household.”14 The contractual logic of equivalence is the logic of an eye for an eye and a tooth for a tooth. It is a human logic. God’s covenants, by contrast, operate according to a logic of superabundance, a lavish, gracious, loving paradigm of excess. God walks between the animal parts alone; the exodus rescue precedes the Sinai law; Christ lays down his life in the new covenant in his blood. This is the logic of the “how much more” of the Pauline epistles (Rom 5:9, 10, 15, 17; 11:24; 1 Cor 6:3; 2 Cor 3:9) and the letter to the Hebrews (Heb 9:14; 10:29; 12:9), of going beyond the call of duty, beyond what is right and proper, beyond what could reasonably be demanded on a ledger of credit and debt. The logic of superabundance replaces the fear and submission of Hobbes’s Leviathan or the tyranny of Rousseau’s general will with the love and sacrifice of Christ. It is the logic of grace and the gift. It is a divine logic. The
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Christopher Watkin (Biblical Critical Theory: How the Bible's Unfolding Story Makes Sense of Modern Life and Culture)