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While adhering to the formalism of Special and General Relativity,
this paper considers the interpretation of clock rates and the rating of
clocks in detail. We also pay particular attention to the crucial
requirement of reciprocity between inertial frames. Our overriding
concern is to bring out a distinction between clocks which run slow
(slowly) in the everyday sense and those which record a smaller
time interval between a specific pair of events - while running at the
standard rate. The day by day application of relativistic formalism is
not affected, but the underlying physics is changed.