There's an awful lot of history behind these terms, so a simple definition might give a misleading impression. Instead, here's a little background. The common thread is the idea that people can master forces previously unknown to them that hamper their well-being, through a process of insight and interpretation. The role of the "analyst" is to remove resistances, usually in the form of "ego defenses." Analysts have also traditionally taken a role as interpreters of culture and its forces. A number of cognitive scientists have made a serious attempt to deconstruct psychoanalytic theory, and have succeeded somewhat at rendering it in some conceptual disarray and leaving Freud's credibility in question in the minds of many. However, it does have some lingering supporters, and remains a subtle and ubiquitous influence on clinical work. The practice of psychoanalysis itself, however, has suffered near-extinction at the hands of critics and managed health care because it is a lengthy, expensive process often without clearly defined outcomes. A few remaining supporters of analytic theory are empirical scientists who hold out the possibility that papa Freud may have been right in at least some intriguing ways afterall. Theories viewing the human mind simply as an information processor have not yet entirely made sense of the same phenomena that once seemed explained reasonably well by psychanalytic theory. Psychoanalytic theory was later refined as "metapsychology," emphasizing the continuously active ("dynamic") interplay of forces within each individual, the shifts of psychic energy, process of the development of personality, and structural elements representing the interactions of components the followers of Freud referred to as id, ego, superego, and adaptive. _Psychodynamic_ became widely used to represent theories based on the dynamic interplay of presumed mental forces. Carl Jung called his version "Analytical Psychology" rather than psychoanalysis, and referred to the psyche as a self-regulating system where conscious and unconscious compensate each other, with the unconscious regulating the conscious. The term "dynamic psychology" is similar to "psychodynamic" but used in a slightly more general way to refer to any system concerned primarily with psychic cause and effect, or drives and motives, rather than behavior or cognition. There's also a more specific form of theory known as "dynamic psychology" related to the functionalist concepts of Dewey and James and concerned primarily with a dynamic or drive factor of the organism assumed operating between stimulus and response. In effect, it's a way of looking at the role of the organism between stimulus and response, somewhat differently than cognitive scientists would look at it, by focusing on functions and drives rather than information processing. So to draw the sharpest general contrast, "analytic" theory emphasizes interpretation of psychological processes, while "dynamic" theory emphasizes the self-regulating aspect of the mind and changing relationship of its parts, but both derive from the same rough body of theory. Of course this is just my own slant, someone else might well make out an entirely different interpretation of this complex topic, with different emphasis.
Psychoanalytic theory is the original general term for Freud's approach to investigating the mind, the therapeutic method derived from it, and also the body of general knowledge arrived at through psychoanalytic methods.
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