Some Roman Catholics insist that “faith counted as righteousness” would mean that faith is counted/regarded as an “intrinsically righteous act”. They often point to places where logizomai is used to regard something “as it really is”, which they think support the notion of an infused righteousness.
At face value, logizomai simply means “to reckon”. It is that simple! But the dispute comes in over whether logizomai means to reckon someone/something “as it really is” or to reckon someone/something “as it is not” (which many consider to be the Protestant view).
I would say that if you were to take into account the business analogy of Paul in verse 4 then the Catholic view collapses.
Robert Gundry, although not a Roman Catholic, does believe that faith is, in essence, what God “counts as righteousness”, similar to the idea of God imputing someone's faith back to them. To those who hold this view, “faith counted as righteousness” means that our faith essentially becomes our righteousness.
John Piper, in responding to Robert Gundry, makes some helpful comments on this issue:
“Paul's own explanation of Genesis 15:6 which follows in Romans 4:4-6 points away from Garlington's interpretation toward historic “imputation.” He says, “Now to the one who works, his wages are not counted as a gift but as his due.” Paul immediately takes up the word “counted” from verse 3 and interprets it in a business context where wages are credited to someone's account. It can happen in two ways: if you work, your wages are credited to your account according to debt; if you don't work, but still get “wages” credited to your account, it is according to grace. This does not fit with Garlington's insistence that the words, “it was counted to him as righteousness” must mean “Abraham was regarded as [what he was, namely] righteous, or covenant-keeping.” Rather it implies that Abraham got something credited to him which he did not have.” (https://www.desiringgod.org/articles/john-piper-responds-to-don-garlington-on-the-imputation-of-righteousness)
In many Greek lexicons they consistently provide multiple definitions for logizomai. Walter Bauer’s Greek-English Lexicon of the New Testament and Other Early Christian Literature provides the following definition (among others) for logizomai:
Notice carefully: the lexicon gives one of the definitions “credit something to someone as something” and then provides instances where this is the meaning. And what do you know? Romans 4:3 and 4:5 are both provided as an instance of where logizomai means “credit something to someone”, which thus puts the common Roman Catholic argument concerning logizomai to bed.
Other Commentaries:
“Since Gen. 15:6 can be read as God rewarding Abraham for a righteous act, as the NJPS translation suggests (“And because he put his trust in the Lord, He reckoned it to his merit”), Paul must explain how Gen. 15:6 supports his teaching on justification by faith. To do so, he focuses on the meaning of the verb logizomai (to credit), which occurs eight times in the first half of Rom. 4 (4:3, 4, 5, 6, 8, 9, 10, 11) and three times toward the end of this chapter (4:22, 23, 25). A commercial term used in bookkeeping, its meaning in commercial transactions is “to reckon,” “to calculate,” “to credit” something to another’s account.” (Frank J. Matera, Romans, pg. 110)
Was Abraham justified just because he had the faith to believe that he would be given a son? Or was it also because of all the other things which he had believed previously?… Before this point, Abraham had believed in part but not perfectly. Now, however, all the parts of his earlier faith are gathered together to make a perfect whole, by which he is justified.” (Origen, Commentary on Romans, cited in Ancient Christian Commentary on Scripture: Romans) [This quote from Origen is relevant to the discussion of whether Abraham was justified in Genesis 12/Hebrews 11:8]
“For Abraham was declared by God to be righteous, not on account of circumcision, but on account of faith. For before he was circumcised the following statement was made regarding him: 'Abraham believed God, and it was accounted unto him for righteousness.' Genesis 15:6 And we, therefore, in the uncircumcision of our flesh, believing God through Christ, and having that circumcision which is of advantage to us who have acquired it— namely, that of the heart— we hope to appear righteous before and well-pleasing to God: since already we have received His testimony through the words of the prophets.)” (Justin Martyr, Dialogue with Trypho, 92)
I think all this talk of “counting,reckoning” seems to make us think that logizomai can only mean that. And it certainly does mean that [i.e. counting/reckoning]. However, I would say that in Romans 4, it is possible that “credit” might be a better translation of logizomai in the context in which it is being used here. I do not have a big problem with translating it as “counted”. It just needs to be remembered that counting can have the aspect of “crediting” to it.
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