Anyone who has studied first year economics will recall the basics of the production theory: when labour input rises, total output should follow. While this sounds simple in theory, Australia’s economic reality has thrown a real curveball into the equation. Despite the fact that we are working longer hours, aggregate output has barely seemed to budge. In the year to March 2025, labour productivity fell by 1%, while multifactor productivity crawled up just slightly by 0.1%.
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2025 marks another milestone as the country undergoes government reforms and shifts their budget concentration to infrastructure development to target higher economic growth. The question is how has this transition impacted Vietnam’s short and long-term economic prospects?
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Infrastructure Mega Projects have gotten economies through hardship. Given recent budget blowouts, are the net benefits crumbling away?
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