The Equilibrium As A Balance of Energies
Gravity tends to contract a celestial body into a perfect sphere, the shape for which all the mass is as close to the center of gravity as possible. Rotation causes a distortion from this spherical shape; a common measure of the distortion is the flattening (sometimes called ellipticity or oblateness), which can depend on a variety of factors including the size, angular velocity, density, and elasticity.
To get a feel for the type of equilibrium that is involved, imagine someone seated in a spinning swivel chair, with weights in their hands. If the person in the chair pulls the weights towards them, they are doing work and their rotational kinetic energy increases. The increase of rotation rate is so strong that at the faster rotation rate the required centripetal force is larger than with the starting rotation rate.
Something analogous to this occurs in planet formation. Matter first coalesces into a slowly rotating disk-shaped distribution, and collisions and friction convert kinetic energy to heat, which allows the disk to self-gravitate into a very oblate spheroid.
As long as the proto-planet is still too oblate to be in equilibrium, the release of gravitational potential energy on contraction keeps driving the increase in rotational kinetic energy. As the contraction proceeds the rotation rate keeps going up, hence the required force for further contraction keeps going up. There is a point where the increase of rotational kinetic energy on further contraction would be larger than the release of gravitational potential energy. The contraction process can only proceed up to that point, so it halts there.
As long as there is no equilibrium there can be violent convection, and as long as there is violent convection friction can convert kinetic energy to heat, draining rotational kinetic energy from the system. When the equilibrium state has been reached then large scale conversion of kinetic energy to heat ceases. In that sense the equilibrium state is the lowest state of energy that can be reached.
The Earth's rotation rate is still slowing down, but gradually, about two thousandth of a second per rotation every 100 years. Estimates of how fast the Earth was rotating in the past vary, because it is not known exactly how the moon was formed. Estimates of the Earth's rotation 500 million years ago are around 20 modern hours per "day".
The Earth's rate of rotation is slowing down mainly because of tidal interactions with the Moon and the Sun. Since the solid parts of the Earth are ductile, the Earth's equatorial bulge has been decreasing in step with the decrease in the rate of rotation.
Read more about this topic: Equatorial Bulge
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