Neutral Fermions at Filling Factor $\mathit{\nu }=1\mathrm{}/2$

We present a particle-hole symmetric theory for a two-dimensional electron gas at filling factor $\nu =1/2\mathrm{}$. In this theory, elementary excitations are dipolelike fermions floating on top of the $\nu =1\mathrm{}/2$ boson quantum-Hall liquid. In the absence of disorder these dipoles can form a Fermi liquid. Disorder can break them apart and drive the ground state into a quantum critical state.