New physical insight into the correspondence between path integral concepts and the Schrodinger formulation is gained by the analysis of the effective classical potential, which is defined within the Feynman path integral formulation of statistical mechanics.! This potential is related to the quasistatic response of the equilibrium system to an external force. These findings allow for a comprehensive formulation of dynamical approximations based on this potential. [S0031-9007(98)07372-4].