The Magna Carta, signed in 1215, is significant for the future of democracy as it established the principle that everyone, including the king, was subject to the law. This foundational document asserted rights and limited the powers of the monarchy, promoting the idea of legal accountability and individual rights. It laid the groundwork for the development of parliamentary democracy and influenced later documents, including the U.S. Constitution and the Bill of Rights. The Magna Carta symbolizes the struggle for liberty and the importance of a government that respects the rights of its citizens.