Before OS X 10.7, you can navigate to the parent directory in Finder using Go to (Shift+Command+G) to the special directory ...
However, since Lion Finder is no longer able to do this and gives he error message The folder can't be found.
Is there a way to enable Finder to do so?
Best Answer
If you simply want to go 'up' in Finder, you can use the keyboard shortcut ⌘↑.
This is the equivalent of
cd ..which is what you would achieve by 'going' to the..folder. Alternatively, you can select Go → Enclosing folder from the menu bar. A custom keyboard shortcut can be assigned to this menu item using App Shortcuts.