Athens (/ˈæθɨnz/; Modern Greek: Αθήνα, Athína; IPA: [aˈθina]; Katharevousa: Ἀθῆναι, Athinai; Ancient Greek: Ἀθῆναι, Athēnai) is the capital and largest city of Greece. Athens dominates the Attica region and is one of the world's oldest cities, with its recorded history spanning around 3,400 years. Classical Athens was a powerful city-state. A centre for the arts, learning and philosophy, home of Plato's Academy and Aristotle's Lyceum, it is widely referred to as the cradle of Western civilization and the birthplace of democracy, largely due to the impact of its cultural and political achievements during the 5th and 4th centuries BC on the rest of the then known European continent. Today a cosmopolitan metropolis, modern Athens is central to economic, financial, industrial, political and cultural life in Greece. In 2008, Athens was ranked the world's 32nd richest city by purchasing power and the 25th most expensive in a UBS study.