The godliness can be translated as mercy or fear of the lord, according to the case. Although it can also be considered a merciful fear. The mercy is compassion, affability, benevolence, benedicence; the fear of the lord is constancy, firmness, devotion, ecuanimity, stability.
There are many cases in the life of Jesus where it is not posible to distinguish the fear of god from mercy, such as the prostitute who washes the feets of Jesus in Luke 7:37-50:
"A woman in that town who lived a sinful life learned that Jesus was eating at the Pharisee's house, so she came there with an alabaster jar of perfume. As she stood behind him at his feet weeping, she began to wet his feet with his tears. Then she wiped them with her hair, kissed them and poured perfume on them.
When the Pharisee who had invited him saw this, he said to himself, "If this man where a prophet, he would know who is touching him and what kind of woman she is."...
Then Jesus said to her, "Your sins are forgiven"
The other guests began to say among themselves, "Who is this who even forgives sins?"
Jesus said to the woman, "Your faith has saved you; go in peace"
In the first letter to Timothy the apostle is explaining to us that godliness is important because is profitable in this life and in the next
Godliness is profitable because is progressive, tend to improvement, we all have a ranking of godliness and this mean that godliness is way, the godliness is the precise and the exact, and this is condition of truth, the godliness also increase life. The godliness is way, truth and life ("I am the way, the truth and the life", John 14:6)
In the bible the spiritual gifts, like sin have a return. The spiritual gifts reap blessings (Luke 6:20-23), the sin reap curse (Luke 6:24-26).
Mercy returns mercy: "Blessed are the merciful, for they shall be shown mercy" Matthew 5:3
The fear of the lord returns a secure life: "Blessed are the meek, for they Will inherit the earth" Mattew 5:5
The godliness is profitable in this life and the next because is progressive godliness, godliness is progressive work for this life and the another. Last but not least the godliness is the path to eternal life.
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