Abstract
An exact expression is given for the coefficient C in the energy CK2 of a spin wave of small wavevector K in a ferromagnetic cubic metal, assuming complete spin alinement in the ground state. This is given in a form which applies to a one‐band model with short‐range interparticle interactions and is compared with the well‐known r.p.a. formula. The main feature of the new result is a modified superexchange term which, in particular, takes account of two‐particle correlations of the Kanamori type and of magnon‐electron scattering. A necessary condition for the ferromagnetic state to be stable is C > 0 and this is investigated for some special cases. Some doubt is thrown on Nagaoka's demonstration of stability in an infinite crystal for the case of a narrow, almost half‐filled, band.

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