Abstract
A previous schematic theory of local-moment formation in metals is freed from some of its approximations. The theory, which is based on the concept of a giant localized spin fluctuation, is extended by numerical methods to include all fluctuation frequencies, not just the dominant one. The relation to recent work by Izuyama on critical fluctuation near the Curie point of a uniform ferromagnetic electron gas is discussed. A conjecture is made concerning the distinction between itinerant electron ferromagnetism and "lattice paramagnetism" composed of disordered moments on lattice sites.

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