A tentative theory of large distance physics
  A theoretical mechanism is devised to determine the large distance physics of spacetime. It is a two dimensional nonlinear model, the lambda model, set to govern the string worldsurface to remedy the failure of string theory. The lambda model is formulated to cancel the infrared divergent effects of handles at short distance on the worldsurface. The target manifold is the manifold of background spacetimes. The coupling strength is the spacetime coupling constant. The lambda model operates at 2d distance $\Lambda^{-1}$, very much shorter than the 2d distance $\mu^{-1}$ where the worldsurface is seen. A large characteristic spacetime distance $L$ is given by $L^2=\ln(\Lambda/\mu)$. Spacetime fields of wave number up to 1/L are the local coordinates for the manifold of spacetimes. The distribution of fluctuations at 2d distances shorter than $\Lambda^{-1}$ gives the {\it a priori} measure on the target manifold, the manifold of spacetimes. If this measure concentrates at a macroscopic spacetime, then, nearby, it is a measure on the spacetime fields. The lambda model thereby constructs a spacetime quantum field theory, cutoff at ultraviolet distance $L$, describing physics at distances larger than $L$. The lambda model also constructs an effective string theory with infrared cutoff $L$, describing physics at distances smaller than $L$. The lambda model evolves outward from zero 2d distance, $\Lambda^{-1} = 0$, building spacetime physics starting from $L=\infty$ and proceeding downward in $L$. $L$ can be taken smaller than any distance practical for experiments, so the lambda model, if right, gives all actually observable physics. The harmonic surfaces in the manifold of spacetimes are expected to have novel nonperturbative effects at large distances. 
Daniel Friedan