We derive the effective action for classical strings coupled to dilatonic,
gravitational, and axionic fields. We show how to use this effective action
for: (i) renormalizing the string tension, (ii) linking ultraviolet divergences
to the infrared (long-range) interaction between strings, (iii) bringing
additional light on the special cancellations that occur for fundamental
strings, and (iv) pointing out the limitations of Dirac's celebrated
field-energy approach to renormalization.Comment: 13 pages, RevTex, one paragraph added at the en