  We describe a basic framework for studying dynamic scaling that has roots in
dynamical systems and probability theory. Within this framework, we study
Smoluchowski's coagulation equation for the three simplest rate kernels
$K(x,y)=2$, $x+y$ and $xy$. In another work, we classified all self-similar
solutions and all universality classes (domains of attraction) for scaling
limits under weak convergence (Comm. Pure Appl. Math 57 (2004)1197-1232). Here
we add to this a complete description of the set of all limit points of
solutions modulo scaling (the scaling attractor) and the dynamics on this limit
set (the ultimate dynamics). The main tool is Bertoin's L\'{e}vy-Khintchine
representation formula for eternal solutions of Smoluchowski's equation (Adv.
Appl. Prob. 12 (2002) 547--64). This representation linearizes the dynamics on
the scaling attractor, revealing these dynamics to be conjugate to a continuous
dilation, and chaotic in a classical sense. Furthermore, our study of scaling
limits explains how Smoluchowski dynamics ``compactifies'' in a natural way
that accounts for clusters of zero and infinite size (dust and gel).
