
In the late 1940s, Schwinger, Tomonaga, and Feynman solved the problem of infinities in quantum electrodynamics. Their method allowed the properties of the electron to be calculated with unprecedented accuracy. Later, 't Hooft and Veltman showed that renormalization works for more complex theories, cementing the success of the Standard Model.
An electron, like a traveler in fog, is surrounded by a cloud of virtual photons and pairs. The "bare" charge of the electron is infinite, but the fog screens it. Measuring the charge at some distance, we see the sum: charge plus the effect of the fog. Renormalization redefines the charge so that this sum becomes finite and matches the experiment. It is like calibrating a scale that zeroes out the container.
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