What is the difference between replacement theology and dispensationalism?

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Replacement theology insists that Christians have fully replaced Jews as heirs of the divine-human covenant described in the Hebrew Bible. Conversely, dispensationalism holds that, in different eras, God interacts with different groups of people in different ways, dispensing different messages as part of an unfolding divine plan. Dispensationalists often support the return of the Jewish Diaspora to Palestine as a necessary prerequisite for the Second Coming of Jesus Christ, and thus they often subscribe to Christian Zionism.