The connection between the field theory and the perturbation expansion of quantum electrodynamics is studied. As a starting point the usual Lagrangian is taken but with bare electron mass and the renormalization constant Z3 set equal to zero. This theory is essentially equivalent to the usual one; however, it does not contain any constant of nature and is dilatational and gauge invariant, both invariances being spontaneously broken. The various limiting procedures implied by the differentiation, the multiplication and the renormalization of the field operators in the Lagrangian are combined in a gauge invariant way to a single limit. Propagator equations are derived which are the usual renormalized ones, except for: (i) a natural cancellation of the quadratic divergence of the vacuum polarization; (ii) the presence of an effective cutoff at p ≈ ϵ−1; (iii) the replacement of the renormalization constants Z1 and Z2 by one gauge dependent function Z(ϵ2); (iv) the limit ϵ → 0 which has to be taken. The value Z(0) corresponds to the usual constants Z1 and Z2. It is expected that in general Z(0) = 0, but this poses no problem in the present formulation. It is argued that the function Z(ϵ2), which is determined by the equations, may render the vacuum polarization finite. One may eliminate the renormalization function from the propagator equations and then perform the limit ϵ → 0; this results in the usual perturbation series. However, the renormalization function is essential for an understanding of the high momentum behaviour and of the relation between the field theory and the perturbation expansion.
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