The significance of the Glorious Revolution in England, which occurred in 1688, lay in its establishment of constitutional monarchy and the affirmation of parliamentary sovereignty. The revolution saw William of Orange replace King James II, leading to the adoption of the Bill of Rights in 1689. This event limited the powers of the monarch and set precedents for individual rights and governance based on laws rather than the whims of rulers. The Glorious Revolution is often viewed as a pivotal moment in the development of democracy, contributing to the eventual establishment of a more balanced system of government, emphasizing the importance of the rule of law.