Liberalism arose as a bourgeois ideology to use against the feudalist systems, the equivalent in feudalism being the clergy and the church. The mode of production capitalism is based on individual ownership of capital, and claiming the labor-power sold by workers is equal in position to the capitalists buying the labor-power and selling commodoties.

Liberalism was left when feudalism was dominant. Putting it in its historical context, it helped overthrow feudalism. However, there is no “Absolute Idea” of Hegel, what was progressive at one point is still reactionary at a later point. In the era of capitalist decay, socialism is on the left, the progressive ideology.