Are the scaling laws for the Kondo problem exact

Anderson's pedestrian way of deriving scaling laws for the Kondo problem, known as 'a poor man's derivation', is analysed. It is shown that these scaling equations contain only the first term of a series expansion in powers of the coupling constants. A new formulation of the scaling idea has been constructed to consider higher order terms. The scaling laws obtained in the approximation next to that of the 'poor man's derivation' indicate that for low energies the effective coupling tends to a finite value of the order of unity instead of going to infinity, though no final conclusion can be drawn from these scaling laws as this result may be altered if further terms are also considered.