Luzzatti came from a wealthy and cultured Jewish family and built a reputation as a social reformer dedicated to raise the working classes from ignorance and poverty.

[3] After completing his studies in law at the University of Padua, he attracted the attention of the Austrian police by his lectures on political economy, and was obliged to emigrate after starting a mutual aid society among gondoliers.

Gifted with eloquence and energy, he popularized the economic ideas of Franz Hermann Schulze-Delitzsch in Italy, worked for the establishment of a commercial college at Venice, and contributed to the spread of people's banks on a basis of limited liability throughout the country.

The industrial workmen's compensation scheme from 1883 was made obligatory with the employer bearing all costs; and a voluntary fund for contributory disability and old age pensions was created.

[8] After his fall from office in June 1898, his principal achievement was the negotiation of the Franco-Italian commercial treaty, though, as deputy, journalist and professor, he continued to take an active part in all political and economic manifestations.

[9] Although a man of first-class financial ability, great honesty and wide culture, he had not the strength of character necessary to lead a government: he showed lack of energy in dealing with opposition and tried to avoid all measures likely to make him unpopular.

In spite of his advanced age, he continued to write on economic and financial problems with his accustomed lucidity and soundness of judgment, insisting on the necessity for Italy to return to free trade and to reduce government interference in business matters to a minimum.