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We consider a spin $s$ subjected to both a static and an orthogonally appliedoscillating, circularly polarized magnetic field while being coupled to a heatbath, and analytically determine the quasi\-stationary distribution of itsFloquet-state occupation probabilities for arbitrarily strong driving. Thisdistribution is shown to be Boltzmannian with a quasitemperature which isdifferent from the temperature of the bath, and independent of the spin quantumnumber. We discover a remarkable formal analogy between the quasithermalmagnetism of the nonequilibrium steady state of a driven ideal paramagneticmaterial, and the usual thermal paramagnetism. Nonetheless, the response ofsuch a material to the combined fields is predicted to show several unexpectedfeatures, even allowing one to turn a paramagnet into a diamagnet under strongdriving. Thus, we argue that experimental measurements of this response mayprovide key paradigms for the emerging field of periodic thermodynamics.

Periodic thermodynamics of the Rabi model with circular polarization for arbitrary spin quantum numbers