The object of the study was to introduce an innovative approach to the long-lasting theoretical discussion about the meaning and extent of political liberty in a modern democratic society. Our suggested way to explain why the democratic political order as such might give rise to considerable challenges for political liberty introduces the classical virtue of courage as a possible key explanatory factor underlying the major tensions that emerge between democracy and liberty. Such approach provides some new insights into the debate about the origins, limits, and political perspectives of modern democracies. The analysis starts by conceptualizing modern democracy as a political form which expresses a specific ethical idea about the natural equ...