I was reading chapter 5 of Dynamical Processes on Complex Networks and encountered the following paragraph:
The importance of critical phase transitions lies in the emergence at the critical point of cooperative phenomena and critical behavior. Indeed, close to the transition point, for $T$ close to $T_c$, the thermodynamic functions have a singular behavior that can be understood by considering what is happening at the microscopic scale. By definition, the correlation between two spins is $\langle \sigma_i \sigma_j \rangle - \langle \sigma_i \rangle \langle \sigma_j \rangle$, and the correlation function $G(r)$ is the average of such correlations for pairs of spins situated at distance $r$. The correlation function measures the fluctuations of the spins away from their mean values, and vanishes for $r \rightarrow \infty$ at both low and high temperature where spins are either all aligned or fluctuate independently, respectively. In particular, at high temperature the correlation function decays with a correlation length $\xi$ that can be considered as an estimate of the typical size of domains of parallel spins. As $T \rightarrow T_c$, long-range order develops in the system and the correlation length diverges: $\xi \rightarrow \infty$. More precisely, $\xi$ increases and diverges as $|(T - T_c)/T_C|^{-v}$ and exactly at $T_c$ no characteristic length is preferred: domains of all sizes can be found, corresponding to the phenomenon of scale invariance at criticality. Owing to the scale invariance at $T_c$, the ratio $G(r_1)/G(r_2)$ is necessarily a function only of $r_1/r_2$, say $\phi (r_2 / r_1)$. Such identity, which can be rewritten as $G(r/s) = \phi (s)G(r)$, has for consequences $G(r/s_1 s_2)) = \phi (s_1 s_2)G(r) = \phi ( s_1) \phi (s_2) G(r)$, which implies that $\phi$ is a power law and we have therefore at critical point $$G(r) ~ r^{-\lambda}$$ where $\lambda$ is an exponent to be determined.
I'm confused in particular about what $|(T - T_c)/T_C|^{-v}$ means. I couldn't find anywhere in the text where $v$ was defined. Also, what does the text mean by "as $|(T - T_c)/T_C|^{-v}$?