Probably the most popular view of the atonement through all of Church history has been the "punishment" view.
The "punishment" view in essense says that Christ recieved our punishment, so that we wouldn't have to recieve our punishment. That Christ recieved exactly the same amount of punishment that the ungodly and sinners would have recieved.
An accurate illustration would be that of a Father angry with His children for doing wrong. The Father is about to beat the children, as punishment, but the older brother steps in and says, "No Father. Beat me, not them." And so the older brother recieves the beating rather then the children.
Understanding the "punishment" view of the atonement, I see that there are three possible views within this over all view.
1. If Christ recieved the punishment of the entire world, but some do not make it to Heaven when they die, but will be punished in hell, then God in effect issues double punishment for one sin.
We could call this the double punishment view.
2. If Christ recieved the punishment of the entire world, but God is too just to give double punishment for one sin, then all sin has been punished, so the world will will make it into Heaven.
We call this Universalism.
3. Christ recieved the punishment of sinners on the cross, but it was not the punishment of all sinners. God would not give double punishment, but God did not die for the whole world, so only those for whom Christ died will escape punishment, but those for whom Christ was not punished, will recieve their own punishment.
This is called Limited Atonement.
Those are the only possible perspectives within the "punishment" perspective of the cross, within the perspective that Christ was punished on our behalf.
I personally hold to the perspective that Christ was not punished on the cross at all.
Since our punishment is eternal hell, and eternal hell is the punishment of each individual sinner, then there would need to be a single Christ, for each single sinner, who is eternally burning in hell. But we know that Christ is not burning in hell, which very simply concludes Christ did not recieve our punishment.
What then was the cross? Aren't we "bought at a price"? Wasn't he "bruised for our iniquities" wasn't He "wounded for our transgressions"? Yes! To the glory of God He was!
But he wasn't "bruised because of our iniquities" or "wounded because of our transgressions" but for them! We were "bought at a price" but that price was the death of Christ, not the eternal burning of Christ!
In essense, the cross was an alternative to the punishment, but not the actual punishment itself. The cross was a means, that made it possible, for God to issue a legal pardon to every single sinner that met the conditions of repentance and faith.
This is called the "Moral Government" perspective of the cross. It was actually the perspective of the atonement that Jonathon Edwards, a great man of God, and a very serious Calvinist, held to. And it is also the view that Charles Finney held to, who was Americas greatests Revivalists.
I see that the "Moral Government" perspective of the cross as the only possible alternative. To believe in the punishment perspective you must believe that either 1. God gives double punishment for the same sin. 2. Everyone will make it into Heaven. Or 3. God did not love the whole world.
