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Can the sum of angular momentum of all rotating electrons in all the aligned atoms in a permanent magnet have a significant contribution to the macro angular momentum of the magnet? If yes, why does it not behave like a spinning top , like, resisting a change in its orientation?

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Why do you think it doesn't behave that way? Ever heard of Larmor precession? en.wikipedia.org/wiki/Larmor_precession –  Marek Jun 18 '11 at 9:51
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