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By default the user Library directory is hidden in Lion 10.7.x, this is probably to keep people from accidentally deleting or damaging files that are necessary for OS X Lion to function properly. That is fine for novice users, but for some of us, we want to be able to access ~/Library/ at will. A visible Library folder was also the default setting in past versions of Mac OS X, here is how to get this back.
Show User ~/Library in OS X Lion
Launch Terminal and enter the following command to show the directory: (Changes take effect immediately)
chflags nohidden ~/Library/
Hide User ~/Library in OS X Lion
Launch Terminal and enter the following command to hide the directory: (Changes take effect immediately)
chflags hidden ~/Library/
Holding down the Option key will show the “Library” directory as an option in the Finders Go menu. The other nice thing about the Go menu is that after you have accessed ~/Library on multiple occasions, it will start to appear in the “Recent Folders” submenu for easy repeat access.