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We study a model of the quantum critical point of cuprates associated withthe "circulating current" order parameter proposed by Varma. An effectiveaction of the order parameter in the quantum disordered phase is derived usingfunctional integral method, and the physical properties of the normal state arestudied based on the action. The results derived within the ladderapproximation indicate that the system is like Fermi liquid near the quantumcritical point and in disordered regime up to minor corrections. This impliesthat the suggested marginal Fermi liquid behavior induced by the circulatingcurrent fluctuations will come in from beyond the ladder diagrams.Comment: 7pages, 1 figure included in RevTex file. To appear in Phys. Rev.

Influence of quantum critical fluctuations of circulating current order parameters on the normal-state properties of cuprates