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Penal Substitution

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I hate to be the one to rain on your parade, but what separates PENAL SUBSTITUTION from other atonement theories (like RANSOM) is the “legal transaction” element at its core … the DEBT of sin OWED by us and PAID by Christ to God to satisfy JUSTICE … yet the quote from Polycarp mentions NONE of these PSA defining elements that distinguish PSA from other Atonement theories. I have little doubt that you will disagree, so just underline the “Legal Transaction” terms from Polycarp that indicate PSA over, say RANSOM THEORY so I can see them, too.

You are pointing to anything that affirms “atonement” and screaming … “THERE, SEE … PSA!”
Well I guess it just flew over your head. I also guess in your paradigm you deny the Trinity too, right? Sense the exact word "Trinity" does not appear in Scripture, go figure.

Once again I will ask you the question that you avoid like the plague, Define Propitiation?​
 

7 Theories of the Atonement Summarized


#1 The Moral Influence Theory​

One of the earliest theories for the atonement is the Moral Influence theory, which simply taught that Jesus Christ came and died in order to bring about a positive change to humanity. This moral change comes through the teachings of Jesus alongside His example and actions. The most notable name here is that of Augustine from the 4th century, whose influence has almost single-handedly had the greatest impact upon Western Christianity. He affirmed the Moral Influence theory as the main theory of the Atonement (alongside the Ransom theory as well).
Within this theory the death of Christ is understood as a catalyst to reform society, inspiring men and women to follow His example and live good moral lives of love. In this theory, the Holy Spirit comes to help Christians produce this moral change. Logically, in this theory, the Eschatological development too becomes about morality, where it is taught that after death the human race will be judged by their conduct in life. This in turn creates a strong emphasis on free will as the human response to follow Jesus’ example. Although Augustine himself differs here in that he did not teach free will, but instead that human beings are incapable of changing themselves, and require God to radically alter their lives sovereignly through the Holy Spirit.
This theory focuses on not just the death of Jesus Christ, but on His entire life. This sees the saving work of Jesus not only in the event of the crucifixion, but also in all the words He has spoken, and the example He has set. In this theory, the cross is merely a ramification of the moral life of Jesus. He is crucified as a martyr due to the radical nature of His moral example. In this way, the Moral Influence theory emphasizes Jesus Christ as our teacher, our example, our founder and leader, and ultimately, as a result, our first martyr.

#2 The Ransom Theory​

The Ransom Theory of the Atonement is one of the first major theories for the Atonement. It is often held alongside the Moral Influence Theory, and usually deals more with the actual death of Jesus Christ, what it actually means and the effect it has upon humanity. This theory finds its roots in the Early Church, particularly in Origen from the 3rd century. This theory essentially teaches that Jesus Christ died as a ransom sacrifice, paid either to Satan (the most dominant view) or to God the Father. Jesus’ death then acts as a payment to satisfy the debt on the souls of the human race, the same debt we inherited from Adam’s original sin.
The Ransom view could be summarized like this:
“Essentially, this theory claimed that Adam and Eve sold humanity over to the devil at the time of the Fall’ hence, justice required that God pay the Devil a ransom, for the Devil did not realize that Christ could not be held in the bonds of death. Once the Devil accepted Christ’s death as a ransom, this theory concluded, justice was satisfied and God was able to free us from Satan’s grip.” 1
Redemption in this theory means to buy back, and purchase the human race from the clutches of the Devil. The main controversy here with this theory is the act of paying off the Devil. Some have written that this is not a fair statement to say that all Ransom Theorists believe that the Devil is paid, but rather in this act of Ransom Christ frees humanity from the bondage of sin and death. In this way, Ransom relates the Christus Victor theory. But it’s worth differentiating here because in one way these views are similar, but in another way, they are drastically different.

#3 Christus Victor

Classically, the Christus Victor theory of Atonement is widely considered to be the dominant theory for most of the historical Christian Church. In this theory, Jesus Christ dies in order to defeat the powers of evil (such as sin, death, and the devil) in order to free mankind from their bondage. This is related to the Ransom view with the difference being that there is no payment to the devil or to God. Within the Christus Victor framework, the cross did not pay off anyone but defeated evil thereby setting the human race free.
Gustaf Aulen argued that this theory of the Atonement is the most consistently held theory for church history, especially in the early church up until the 12th century before Anslem’s satisfaction theory came along. He writes that “the work of Christ is first and foremost a victory over the powers which hold mankind in bondage: sin, death, and the devil.” 2 He calls this theory the “classic” theory of the Atonement. While some will say that Christus Victor is compatible with other theories of the Atonement, others argue that it is not. Though I have found that most theologians believe that Christus Victor is true, even if it is not for them the primary theory of Christ’s death.

#4 The Satisfaction Theory (Anselm)​

In the 12th century, Anselm of Canterbury proposed a satisfaction theory for the Atonement. In this theory, Jesus Christ’s death is understood as a death to satisfy the justice of God. Satisfaction here means restitution, the mending of what was broken, and the paying back of a debt. In this theory, Anselm emphasizes the justice of God and claims that sin is an injustice that must be balanced. Anselm’s satisfaction theory says essentially that Jesus Christ died in order to pay back the injustice of human sin and to satisfy the justice of God.
This theory was developed in reaction to the historical dominance of the Ransom theory, that God paid the devil with Christ’s death. Anselm saw that this theory was logically flawed, because what does God owe satan? Therefore, in contrast with the Ransom theory, Anselm taught that it is humanity who owes a debt to God, not God to satan. Our debt, in this theory, is that of injustice. Our injustices have stolen from the justice of God and therefore must be paid back. Satisfaction theory then postulates that Jesus Christ pays pack God in His death on the cross to God. This is the first Atonement theory to bring up the notion that God is acted upon by the Atonement (i.e. that Jesus satisfies God).
You forgot Penal Substitution. Which one do you hold to?
 
Penal Substitutionary Atonement.

When you encounter professing Christians who attempt to deny penal substitutionary atonement, I would encourage you to make sure to point them to Luke 22:37 (among many other passages). Here Jesus is speaking just prior to Jesus' crucifixion, where He defines the importance and meaning of His going to the cross:

"For I tell you that this Scripture MUST be FULFULLED in ME: ‘And he was numbered with the transgressors.’ For what is written about me has its FULFILLMENT.” Luke 22:37 (emphasis mine)
 
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