We investigate the quantum phase transition of itinerant ferromagnets. It i
s shown that correlation effects in the underlying itinerant electron syste
m lead to singularities in the order parameter field theory that result in
an effective long-range interaction between the spin fluctuations. This int
eraction turns out to be generically antiferromagnetic for clean systems. I
n disordered systems analogous correlation effects lead to even stronger si
ngularities. The resulting long-range interaction is, however, generically
ferromagnetic.
We discuss two possibilities for the ferromagnetic quantum phase transition
. In clean systems, the transition is generically of first order, as is exp
erimentally observed in MnSi. However, under certain conditions the transit
ion may be continuous with non-mean field critical behavior. In disordered
systems, one finds a very rich phase diagram showing first order and contin
uous phase transitions and several multicritical points.