From a netfriend:

Greetings,

Your article (http://jmm.aaa.net.au/articles/12652.htm ) stated that Irenaeus taught the Ransom Theory of the Atonement. However, I wanted to verify this, went to several scholarly sites and to my own edition of Irenaeus' works, since I am seeking to publish some of my works online. Your information is incorrect. The Ransom Theory was introduced by Origen and others. Irenaeus seems to be teaching the governmental view of the atonement. See Irenaeus Book V.1.1 "And since the apostasy tyrannized over us unjustly, and, though we were by nature the property of the omnipotent God, alienated us contrary to nature, rendering us its own disciples, the Word of God, powerful in all things, and not defective with regard to His own justice, did righteously turn against that apostasy, and redeem from it His own property, not by violent means, as the apostasy had obtained dominion over us at the beginning, when it insatiably snatched away what was not its own, but by means of persuasion, as became a God of counsel, who does not use violent means to obtain what He desires; so that neither should justice be infringed upon, nor the ancient handiwork of God go to destruction. Since the Lord thus has redeemed us through His own blood, giving His soul for our souls, and His flesh for our flesh, etc."

The Ransom Theory states that God paid the devil to let us go, and that the devil had somehow a legal right to own us through the fall. As you can see by the main text from Irenaeus which writers use to affirm that he taught the Ransom Theory, no such dogma is evident. Within the lengthy quote, it is evident that it was sin or apostasy that had control over us, but not authority: big difference between power and right, you know! We are redeemed from the apostacy in this context. Next, the apostasy or fall was in its original form an appeal to human nature by means of a satanic temptation or seduction to apostasy. Irenaeus clearly contrasts the method by which God brings us back under his moral guidance with the method by which the apostasy occurred. Irenaeus points out that Jesus' death or the shedding of his blood was the means of persuasion.'to obtain what He desires'. He continues that if the cross can awaken our conscience and bring us to repentance, bringing us back under God's rulership, then 'justice' would not 'be infringed upon, nor the ancient handiwork of God go to destruction.' Redemption and to redeem is the introduction of a costly or valuable means as a condition by which a person or object is released or brought under new ownership or new guidance or reclaimed by the rightful owner. I hope you will pay regard this new information, for the sake of truth and knowledge.

Grace and peace,