An induction brake or clutch capable of producing high torques over prolonged periods without excessive heating. The braking currents are generated in low resistance windings and dissipated in external higher resistance members so that the heat does not detrimentally effect the device. Permanent magnets are employed to generate flux and reduce the heat normally generated internally by exciting currents. Poles on a stationary member are arranged in two axially adjacent rings which are relatively circumferentially movable at least one pole pitch so that the torque may be readily adjusted. In a preferred embodiment the rotating member has permanent and electromagnet exciting field poles for the low resistance windings and other windings excited by stationary permanent magnets connected to the electromagnets through a rectifier.
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