LUZZATTI, LUIGI (1841-1927), Italian economist and financier, was born of Jewish parents at Venice on March 11, 1841. He studied law at Padua, was driven into exile by the Aus trian police for a short time, became professor of constitutional law at Padua (1867), at Perugia (1894), and finally at Rome (1898). He popularized in Italy the economic ideas of Schultze Delitzsch, 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. An enthusiast for all forms of co-operation, he founded the first co-operative store in Italy. In 1869 he was appointed by Minghetti under secretary of state to the ministry of agriculture and commerce, in which capacity he abolished government control over commercial com panies and promoted a state inquiry into the conditions of indus try. Though theoretically a free trader, he helped to create the Italian protective system. In 1877 he participated in the com
mercial negotiations with France, in 1878 compiled the Italian customs tariff and subsequently took a leading part in the negotia tions of all the commercial treaties between Italy and other coun tries. He was minister of the treasury in four cabinets between 1891 and 1909. During his last term of service at the treasury he achieved the conversion of the Italian 5% debt (reduced to 4% by the tax) to to be eventually lowered to 31%; although the actual conversion was not completed until after the fall of the cabinet of which he formed part the merit is entirely his. Luzzatti was minister of agriculture and commerce in 1909, and in 1909-11 prime minister. He received many honours, including the title of minister of state for life. He died on March 29, 1927.