Renormalization of the Hamiltonian and a geometric interpretation of asymptotic freedom

Using a novel approach to renormalization in the Hamiltonian formalism, we study the connection between asymptotic freedom and the renormalization group flow of the configuration space metric. It is argued that in asymptotically free theories the effective distance between configuration decreases as high momentum modes are integrated out.Comment: 22 pages, LaTeX, no figures; final version accepted in Phys.Rev.D; added reference and appendix with comment on solution of eq. (9) in the tex