Pedophilia was more common in ancient Greece but it was not widely approved of even there. There are jokes in some plays making fun of the guys who do it.
Alcibiades makes it plain that Socrates never made any advances toward him even tho they often slept in the same bed.
Aristophanes really hits them hard in some of his plays.
It probably exists but I have never read anything from ancient Greece approving of it.
Attitudes towards homosexuality and what we would call (inaccurately) pedophilia in ancient Greece are complex and probably poorly understood today. They certainly don’t fit at all into the “homosexuality” or “pedophilia” of today. They also almost certainly varied over time and by city.
The most telling feature, to me, is the Greek ideal of beauty. Today, if you walk down the rack in a magazine stand, the covers are almost entirely of women, and young women meeting a particular standard. They outnumber men on the covers by something like 10:1. Even, perhaps especially, on women’s magazines. That’s because this is our society’s ideal of beauty. The models are often anonymous, presented not as individual humans, but as a symbol of the ideal.
If the Greeks had a newstand, the covers would have been something like 15:1 of boys or young men, not of women. That was their ideal of beauty.
Oddly enough, the common perception among American conservatives that Greece deteriorated and fell because of their practice of homosexuality appears to unfortunately be backwards. The period when pederasty was most dominant appears to correlate quite closely to the military and cultural pinnacle of classical Greece.
During Hellenistic times, when tyrants rather than democrats ruled, women as an ideal of beauty and sexuality made a bit comeback.
During the height of Greek civilization, Pericles, the Parthenon and all that, pederasty seems to have been in some ways the central institution of the society. AFAIK, it has never achieved anything like the same status in any other society.
Pretty good and balanced wiki article.
http://en.wikipedia.org/wiki/Pederasty_in_ancient_Greece