This text emerged from the research on the legacy of Yugoslav self-management, its fundamental principles and their possible application today. When we reflect on the contemporary struggles against the commodification of work and everyday life, and try to imagine a different – more just, humane and sustainable – economic system, the experience of self-managing socialism in the Socialist Federal Republic of Yugoslavia represents an important historical reference. Self-managing economy was established as a system based upon the broad application of the principles of economic democracy with the aim of achieving greater participation of employees in making economic decisions, decentralization of ownership and enabling social reproduction beyond the market. A critical look at this period could provide significant insights and guidelines for designing new models and systems that, instead of generating profit, strive to meet broader social (and the environmental) needs.