Abstract
The phase structure of the scalar field theory with arbitrary powers of the gradient operator and a local non-analytic potential is investigated by the help of the RG in Euclidean space. The RG equation for the generating function of the derivative part of the action is derived. Infinitely many non-trivial fixed points of the RG transformations are found. The corresponding effective actions are unbounded from below and do probably not exhibit any particle content. Therefore they do not provide physically sensible theories.
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