Srinagar, Aug. 1 -- Srinagar- Jammu and Kashmir Chief Minister Omar Abdullah on Saturday said no society had ever become prosperous solely through government employment or public expenditure, asserting that enterprise was the key to converting opportunity into lasting prosperity.

Delivering the keynote address at the inaugural session of the IIM Bangalore Alumni Association here, Abdullah said Jammu and Kashmir's experience demonstrated that societies changed course when institutions altered the incentives shaping people's decisions over time.

"Enterprise is what converts opportunity into prosperity. No society has ever become prosperous solely through government employment or public expenditure," he said.

The chief minister said Jammu...