We start from the Barnes-Coleman slave-particle description, where the
Hubbard operators X are decomposed into a product of fermionic (f(alp
ha)) and bosonic (b) operators. The quantum mechanical constraint b(+)
b + Sigma(alpha)f(alpha)dagger f(alpha) = 1 is treated within the fram
ework of Dirac's method for the quantization of classical constrained
systems. This leads to modified algebraic properties of the fundamenta
l operators: bb dagger b = b, f(alpha)f(beta)dagger f(gamma) = delta(a
lpha beta)f(gamma) and f alpha b dagger = 0. Thereby the algebra of th
e X-operators is preserved exactly on the operator level. Matrix repre
sentations of the above algebra are constructed and a resolvent-like p
erturbation theory for the single-impurity Anderson model is developed
.