Massless quantum electrodynamics with a critical point

Recently, it has been observed that a quantum field theory need not be Hermitian to have a real, positive spectrum. What seems to be required is symmetry under combined parity and time-reversal transformations. This idea is extended to massless electrodynamics, in which the photon couples to the axial-vector current with an imaginary coupling constant. The eigenvalue condition necessary for the finiteness of the theory can now be solved; the value for the charge appears to be stable order-by-order. Similarly, the semiclassical Casimir model for the fine-structure constant yields a positive value.