Abstract
We calculate the average persistent current in a mesoscopic metal ring threaded by a magnetic flux in the diffusive regime. It is shown that the classical electromagnetic energy leads to a universal average current of the order of αec/C0, where α is the fine structure constant, -e is the charge of the electron, c is the velocity of light, and C0 is the classical capacitance of the ring. Striking similarities between persistent currents and universal conductance fluctuations are discovered. We suggest a simple experiment to test our theory.
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