The self-managed economy is a form of socialism where enterprises are owned and managed by their employees, effectively negating the employer-employee (or wage labor) dynamic of capitalism and emphasizing the opposition to alienation, self-managing and cooperative aspect of socialism. Members of cooperative firms are relatively free to manage their own affairs and work schedules. This model was developed most extensively by the Yugoslav economists Branko Horvat, Jaroslav Vanek and the American economist Benjamin Ward.