Principles of Bible Translation: Making the Case for Essentially Literal

Arguing for essentially literal translation of the English Bible, John Piper articulated four convictions on Bible translation:

1. A more literal translation respects the original author's way of writing.  It is a way of honoring the inspired writers. 
2. Translators are fallible and they may mislead the English reader if they use unnecessary paraphrases to bring out one possible meaning and conceal others.  
3. A more literal translation gives preachers more confidence that they can preach what the English text says with authority that it reflects what the original Greek or Hebrew text says.  
4. A more literal translation which preserves ambiguities that are really there in the original keeps open the possibility of new insight by future Bible readers.

It is also worth mentioning Leland Ryken's ten reasons to trust essentially literal translations. For more explanation, see his Bible Translation Differences, pp. 23-30:

1. Transparency to the original
2. Keeping to the essential task of translation
3. Preserving the full interpretive potential of the original
4. Not mixing commentary with translation
5. Preserving theological precision
6. Not needing to correct the translation in preaching
7. Preserving what the biblical writers actually wrote
8. Preserving the literary qualities of the Bible
9. Preserving the dignity and beauty of the Bible
10. Consistency with the doctrine of inspiration