Can the Fine Structure Constant Be Calculated from First Principles?

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intervoxel
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Griffiths's QM textbook says on page 236 regarding the fine structure constant calculation from first principles:

"If you can solve part (b), you have the most certain Nobel Prize in history waiting for you".

Just for curiosity, since I'm aware that giants like Sir Arthur Eddington tried and failed, what are the axioms to start such a quest?
 
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There is no definite set of axioms from which to start, since such a questsion goes beyond the standard model. Most work beyond the standard model is done in string theory, and in principle this framework could contain a mathematical proof of why the value of the fine structure constant is necessary and universal.