  The large relativistic corrections to the constituent quark current operators
improve the predictions for the axial couplings of the baryons, but worsen
those for their magnetic moments. The exchange current corrections that are
associated with flavor and spin dependent hyperfine interactions between the
quarks with a form suggested by pseudoscalar meson exchange can compensate the
relativistic corrections to the baryon magnetic moments. This is demonstrated
by a calculation of the magnetic moments of the non-strange and strange baryons
using wave functions and exchange current operators, which correspond to a
recent phenomenological spin- and flavor dependent interquark interaction model
with a linear confining interaction, which yields a spectrum close to the
empirical one. The possibility that part of the flavor and spin dependent
interaction could be due to vector and axial-vector exchange is explored.
