Curious on your take on this view of the atonement.
A summary from Theopedia...
The Governmental theory of the atonement (also known as the moral government theory) maintains that Christ was not punished on behalf of the human race. Instead, God publicly demonstrated his displeasure with sin by punishing his own sinless and obedient Son as a propitiation. Because Christ's suffering and death served as a substitute for the punishment humans might have received, God is able to extend forgiveness while maintaining divine order, having demonstrated the seriousness of sin and thus appeasing his wrath.
This view holds that Christ by His death actually paid the penalty for no man's sin.
A summary from Theopedia...
The Governmental theory of the atonement (also known as the moral government theory) maintains that Christ was not punished on behalf of the human race. Instead, God publicly demonstrated his displeasure with sin by punishing his own sinless and obedient Son as a propitiation. Because Christ's suffering and death served as a substitute for the punishment humans might have received, God is able to extend forgiveness while maintaining divine order, having demonstrated the seriousness of sin and thus appeasing his wrath.
This view holds that Christ by His death actually paid the penalty for no man's sin.