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Quick answer: They often appear to be equivalent. Second answer: Not when I was there; but I have read it, though not recently--but I did just pull it off my shelf during this discussion. Homoousios in Greek doesn't have as much of a connotation of singularity. I think it has to be implicit. Basil, for example, in 38 knows that in dealing with ousia, he can only say there is one, but there are three hypostasis. On account of this, we say that there exists in the community of ousia no accord and no community with respect to the distinguishing characteristics beheld of the Trinity, through which is established the individuality of the Persons as | handed down in the faith, each one being apprehended separately by means of their peculiar characteristics; so that through the signs just mentioned, the distinction of the hypostases is discovered. But with respect to those characteristics such as being 'infinite', 'incomprehensible', 'uncreated,' 'uncircumscribed by any space', and all such things, there is no variation among the life-creating nature, I mean between the Father and the Son and the Holy Spirit; but a certain continuous and uninterrupted community is found among them. No variatation means no variation. Nature of course is going in some way to refer to motion and hence to operation. But Basil does not stop there. He continues with "uninterrupted community found among them."
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Ha! I just looked at the new advent translation of Letter 38, and "ousia" is translated as "essence or substance!"
What an unfortunate translation choice. No wonder theology is so hard to do in English; one can't make adequate distinctions. We should all speak Greek. Or maybe German.
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I saw that same problem in my 38 volume set of the Fathers which I guess is what new advent has on line.
Do any of the Cappadocians consider the angelic beings? Since matter is the principle of individuation, then when speaking of angels, do the Fathers speak of them as having different ousia?
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I don't know--it hasn't come up in my reading. If anywhere, that particular topic would be in John of Damascus. Incidentally, I bring up the difference between substance, essence, and nature, because one could intelligibly speak this way: The essence of the substance "lm" is to be an embodied nature. Clear? 
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Don't you guys ever get tired? LOL!!
Alexandr
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The following is from Eusebius' Letter on the Council of Nicea. On their dictating this formula, we did not let it pass without inquiry in what sense they introduced "of the essence of the Father," and "one in essence with the Father." Accordingly questions and explanations took place, and the meaning of the words underwent the scrutiny of reason. And they professed, that the phrase "of the essence" was indicative of the Son's being indeed from the Father, yet without being as if a part of Him. And with this understanding we thought good to assent to the sense of such religious doctrine, teaching, as it did, that the Son was from the Father, not however a part of His essence. On this account we assented to the sense ourselves, without declining even the term "One in essence," peace being the object which we set before us, and steadfastness in the orthodox view.
[In what I have made bold, I take it that he means that the Son is of the whole essence of the Father.]
6. In the same way we also admitted "begotten, not made;" since the Council alleged that "made" was an appellative common to the other creatures which came to be through the Son, to whom the Son had no likeness. Wherefore, say they, He was not a work resembling the things which through Him came to be, but was of an essence which is too high for the level of any work; and which the Divine oracles teach to have been generated from the Father, the mode of generation being inscrutable and incalculable to every originated nature.
7. And so too on examination there are grounds for saying that the Son is "one in essence" with the Father; not in the way of bodies, nor like mortal beings, for He is not such by division of essence, or by severance, no, nor by any affection, or alteration, or changing of the Father's essence and power (since from all such the unoriginate nature of the Father is alien), but because "one in essence with the Father" suggests that the Son of God bears no resemblance to the originated creatures, but that to His Father alone Who begat Him is He in every way assimilated, and that He is not of any other subsistence and essence, but from the Father. To which term also, thus interpreted, it appeared well to assent; since we were aware that even among the ancients, some learned and illustrious Bishops and writers have used the term "one in essence," in their theological teaching concerning the Father and Son. http://www.newadvent.org/fathers/2804.htm
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inde est quod essentia proprie et vere est in substantiis "Hence it is that essence properly and truly is in substance." That seems to sum it up.
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In what way? One finds essences most truly in substances, but essences aren't the same things as substances. The essence of Peter is not the same as the substance "Peter." And, if you read further down (just google the phrase) you'll see that Thomas thinks "essentia" translates "ousia."
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The essence of Peter is not the same as the substance "Peter." Agreed. Peter is "a man" not "man". He and Paul are of the same essence. In God, His being and essence are not different. St. Thomas writes: On the other hand, in things not composed of matter and form, in which individualization is not due to individual matter - that is to say, to "this" matter - the very forms being individualized of themselves - it is necessary the forms themselves should be subsisting supposita. Therefore suppositum and nature in them are identified. Since God then is not composed of matter and form, He must be His own Godhead, His own Life, and whatever else is thus predicated of Him. Later he writes: But, as shown above (Q3, A3,r 1), the use of concrete and abstract names in God is not in any way repugnant to the divine simplicity; forasmuch as we always name a thing as we understand it. Now, our intellect cannot attain to the absolute simplicity of the divine essence, considered in itself, and therefore, our human intellect apprehends and names divine things, according to its own mode, that is in so far as they are found in sensible objects, whence its knowledge is derived. In these things we use abstract terms to signify simple forms; and to signify subsistent things we use concrete terms. Hence also we signify divine things, as above stated, by abstract names, to express their simplicity; whereas, to express their subsistence and completeness, we use concrete names.
But not only must essential names be signified in the abstract and in the concrete, as when we say Deity and God; .... For since we confess the Father, the Son, and the Holy Ghost to be one God and three persons, to those who ask: "Whereby are They one God? ... They are one in essence or deity So I think one in essence is signifying abstractly that there is one God, ie, the Persons are consubstantial. So in that sense, I agree that one in essence is as acceptable as consubstantial. This is a separate thought but it strikes me as really very interesting (and maybe I'm just wrong): Since Jesus Christ is true man, but a Divine person, the human nature which he "has" seems, in a sense, to be both particular (ie, this flesh and these bones) and yet he "has" it universally, ie (as man, himself). Does that make any sense or am I just wrong? ________ And, if you read further down (just google the phrase) you'll see that Thomas thinks "essentia" translates "ousia." I can't find it. What book and chapter?
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This is a separate thought but it strikes me as really very interesting (and maybe I'm just wrong): Since Jesus Christ is true man, but a Divine person, the human nature which he "has" seems, in a sense, to be both particular (ie, this flesh and these bones) and yet he "has" it universally, ie (as man, himself). Does that make any sense or am I just wrong? I've been so tempted to intrude here and prompt a bit but I am interested in the way things are playing out so I hesitate to say even this much. Keeping it simple minded, one can go back to the old Baltimore Catechism and read that God made us to know love and serve him in this life and to be happy with him in heaven. That is far more than just child's play at theological truth, in fact. One of the difficulties that the scholastics bogged themselves down in, before and after St. Thomas, was to posit a kind of ideal vat of something called human nature that each one of us is drawn out of. St. Thomas rejected this understanding of nature and realized that each nature was really a purpose, a reason for being. Human nature exists so that human beings come into being in order to seek God, know Him, love Him, serve Him...and so on. That is what it means to be human in terms of revealed truth. That is why the human and divine wills are caught up in what we call divine nature and human nature. It is one of the foundation stones of our understanding of the Incarnation. Cardinal Cajetan reverts to philosophical type and posits an ideal human nature...that vat of "stuff" that we are supposedly drawn out of one by one. The history and continuation of that ancient discussion is all part of the 20th century discussion on nature and grace. Hint: There are two streams of presenting and understanding esse and ens in St. Thomas. Sorry for interrupting. Now back to our regular programming. Mary
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Brethren, I'm not sure if this will contribute anything to the discussion as it is developing, but are you aware that in the New Testament, ousia is used in only one sense: earthly wealth; property. It is used only two times, both in the parable of the Prodigal Son (Luke 15: 12,13). The Vulgate translates it as substantia, and the Douay Rheims version as substance. Of course, we still have this use in English: "he is a man of substance."
I wish to retract my raising of suspicion about "one in essence." However, I do greatly prefer the Ruthenian Church's former translation "of one substance with the Father."
As far as substance vs. essence goes, arguments fall flat which ignore the fact that the Fathers at Nicea equated the theological use substantia and ousia: consubstantialem Patri = homoousion to Patri.
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This is from, One Single Source, An Orthodox response to the Clarification on the Filioque by loannis Zizioulas, Metropolitan of Pergamon Is this a translation or was it written in English? Here ousia is referred to as substance. 3. Another important point in the Vatican document is the emphasis it lays on the distinction between επόρευσις (ekporeusis)and processio. It is historically true that in the Greek tradition a clear distinction was always made between εκπορεύεσθαι (ekporeuesthai) and προείναι (proeinai), the first of these two terms denoting exclusively the Spirit's derivation from the Father alone, whereas προείναι (proienai) was used to denote the Holy Spirit's dependence on the Son owing to the common substance or ουσία (ousia) which the Spirit in deriving from the Father alone as Person or υπόστασις (hypostasis) receives from the Son, too, as ουσιωδώς (ousiwdws) that is, with regard to the one ουσία (ousia) common to all three persons (Cyril of Alexandria, Maximus the Confessor et al). On the basis of this distinction one might argue that there is a kind of Filioque on the level of ουσία (ousia), but not of υπόστασις (hypostasis). http://web.archive.org/web/20050226040634/praiseofglory.com/zizioulis.htm
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