‘Liberalism’ as a developed ideology was a product of :
Breakdown of feudalism
Liberalism as a developed political ideology emerged in Europe from the breakdown of feudalism and the rise of a market or capitalist society in its place (Andrew Heywood).
Feudal society was based on fixed hierarchy, inherited status and absolute monarchy. As it collapsed, a rising middle class demanded individual rights, constitutional government, property rights and religious toleration, which became the core liberal values.
Weakened monarchy and a weakened Church were consequences or parts of this larger transformation, while industrialization came later (late 18th-19th century) and shaped classical liberalism after its birth rather than giving rise to it.
Hence, the answer is Breakdown of feudalism.
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