Abstract
By a new method, the Dirac electron theory is completely reexpressed as a set of conservation laws and constitutive relations for local observables, describing the local distribution and flow of mechanical quantities. The coupling of the electromagnetic field to the electron is shown to be determined by the definitions of the observables rather than by the Dirac equation. Planck's constant appears in the equations only in connection with the electron spin. The equations are most readily interpreted by assuming that the electron is a structureless point charge, the spin and magnetic moment arising from the dynamics of electron motion.

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