This article analyses a livelihood model called “đa gi năng” (multi-functional) in a rural area in Northern Vietnam, by which it discusses the importance of livelihood diversity in a post-modern economic context. David Harvey contends that one of the fundamental features of the post-modern era is the acceleratingpace ofchange in the economic environment on a global scale, especially under the influence of constant changes in demands, needs, tastes, and technology’. As a result, Fordist economic models, which emphasize scale, become increasingly rigid and struggle in adaption to the new economic environment. In contrast, economic models that emphasize diversity’ show resilience as well as the flexibility in adapting to rapid changes. This poses numerous implicationsfor Vietnam's economic development policy-making process, especially the need to balance the development of large-scale production with the diversity, flexibility, and adaptability’ ofthe economy to the rapid changes ofthe modern world.