 Quasi-static tether contraction

For two equal point masses $m$ joined by a light tether of length $l$, the central moment of inertia is $m{l}^2/2$. With conserved angular momentum $L$, the rotational kinetic energy is $L^2/(m{l}^2)$. Slow, smooth contraction gives ${\dot{E}}_{\mathrm{rot}}=-T\dot{l}$ with the displayed leading tension. The exact radial correction is $E_{\mathrm{rad}}=m{\dot{l}}^2/4$ and $T=2L^2/(m{l}^3)-m\ddot{l}/2$, so the total work-energy theorem remains exact for non-quasi-static schedules too.