The issue of 'penal substitution' has been explored critically, and in some depth, in Ekklesia's book Consuming Passion: Why the Death of Jesus Really Matters, DLT 2005 (http://www.ekklesia.co.uk/node/4691), edited by Simon Barrow and Jonathan Bartley.
It includes an essay by Steve Chalke, one of the evangelical dissenters on this issue, and situates the theological argument as part of a consideration of religion and violence. And it also examines Mel Gibson's controversial film, The Passion of the Christ.
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