The Fine Structure Constant, identified by the Greek letter α is a fundamental number used in quantum physics calculations. The current estimate is that it's around 0.00729735256 - or roughly 1/137.

It has been called the "coupling constant" - or the measure of the strength of the electromagnetic force which governs how electrically-charged elementary particles (e.g., electron, muon) and light (photons) interact. It was introduced in 1916 by physicist Arnold Sommerfeld, in order to explain the observed splitting (or fine structure) of the energy levels of the hydrogen atom.

It is a crucial factor in many of the fundamental calculations in quantum physics.

There is no explanation for the constant's value, other than calculations which show that if it deviated by more than ± 4% or so, the structure of the universe would be so radically different that life could not have evolved, and so no-one would be around to observe and quantify it.

A further mystery is that it appears not to be constant. When measurement discrepancies were originally identified, it was assumed that they could be explained by experimental error. The predominant current view is that it is changing by a measurable amount each year. (Technical details here )

Further info : Introduction to the constants for nonexperts US NIST Physical Measurement Laboratory

Also see : Physical constantsplugin-autotooltip__plain plugin-autotooltip_bigPhysical constants

Constants variability :

Many physics calculations rely on the assumption that the ‘physical constants’ e.g. light-speed, gravity, etc etc are, in fact, constant. Extremely accurate experimental procedures strongly suggest that they (mostly) are. But the experiments can only be carried out on a ‘local’ scale, and in a very short timeframe (cosmologically speaking). Thus the possibility exists that some constants may vary at extreme distances and/or timescales. If so, current …

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