Final answer:
The rule of law in modern democracies means that no one is above the law, and everyone is accountable under the law. It ensures fairness, prevents arbitrary actions by the government, and protects individual rights.
Step-by-step explanation:
The rule of law is the democratic ideal where no individual or institution is above the law. It means that the government, its officials, individuals, and private entities are all accountable under the law. In a modern democracy, the rule of law ensures that laws are applied equally and fairly, preventing the government from acting in an arbitrary or unjust manner.
The rule of law is based on the principle that everyone is subject to the law, regardless of their status or position. This means that even government officials must follow the law and can be held accountable if they violate it. By upholding the rule of law, modern democracies strive to protect individual rights, maintain order, and prevent the concentration of power in the hands of a few.