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Why a magnet sitting next to a wire does not induce a current in the wire

User Rgaut
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A magnet sitting next to a wire does not induce a current in the wire because the magnet is very small and short compared to the coil radius. If you pretend it's two individual monopoles, they're only a few mm apart, so at several cm there's almost perfect cancellation of the fields.
User Rehab
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