Wayne Grudem is very helpful in his Systematic Theology on what we mean when we refer to "the word of God".
He points out on pages 47-48 that "the word of God" can refer, in Scripture, to the Son of God, Jesus Christ. It can also refer to God's speech in 4 forms: 1. His decrees; 2. His words of personal address; 3. His speech through human lips, and 4. His words in written form, for us the Bible.
He then explains the importance of the 4th sense for us. The other ways in which the Word of God is encountered are only accessible for us through that written word. 3 paragraphs on pages 50-51 are worth quoting in full:
Of all the forms of the Word of God, the focus of our study in systematic theology is God's Word in written form, that is, the Bible. This is the form of God's Word that is available for study, for public inspection, for repeated examination, and as a basis for mutual discussion. It tells us about and points us to the Word of God as a person, namely Jesus Christ, whom we do not now have present in bodily form on earth. Thus, we are no longer able to observe and imitate his life and teachings firsthand.
The other forms of the Word of God are not suitable as the primary basis for the study of theology. We do not hear God's words of decree and thus cannot study them directly but only through observation of their effects. God's words of personal address are uncommon, even in Scripture. Furthermore, even if we did hear some words of personal address from God to ourselves today, we would not have certainty that our understanding of it, our memory of it, and our subsequent report of it was wholly accurate. Nor would we be readily able to convey to others the certainty that the communication was from God, even if it was. God's words as spoken through human lips ceased to be given when the New Testament canon was completed. Thus, these other forms of God's words are inadequate as a primary basis for study in theology.
It is most profitable for us to study God's words as written in the Bible. It is God's written Word that he commands us to study. The man is "blessed" who "meditates" on God's law "day and night" (Ps. 1:1-2). God's words to Joshua are also applicable to us: "This book of the law shall not depart out of your mouth, but you shall meditate on it day and night that you may be careful to do all that is written in it; for then you shall make your way prosperous, and then you shall have good success" (Josh. 1:8). It is the Word of God in the form of written Scripture that is "God-breathed" and "useful for teaching, rebuking, correcting, and training in righteousness" (2 Tim. 3:16 NIV).
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