The Glorious Revolution of 1688 is significant as it marked the overthrow of King James II of England and the ascension of William of Orange and his wife, Mary II, to the throne. This event was pivotal in establishing parliamentary sovereignty over the monarchy. It led to the Bill of Rights in 1689, which codified the rights of Parliament and limited the powers of the crown, ensuring greater constitutional rule. The Glorious Revolution is often viewed as a foundational moment in the development of modern democracy in England, influencing political thought and practice in subsequent years.