Renormalization group theory: Its basis and formulation in statistical physics

Abstract

The nature and origins of renormalization group ideas in statistical physics and condensed matter theory are recounted informally, emphasizing those features of prime importance in these areas of science in contradistinction to quantum field theory, in particular: critical exponents and scaling, relevance, irrelevance and marginality, universality, and Wilson's crucial concept of flows and fixed points in a large space of Hamiltonians.