This study examines the development of grantmaking policy of the National Endowment for the Arts (NEA) from its inception in the mid-1960s to its near demise during the fiscal year 1996. It analyses NEA's experimentations to promote new and innovative works, demonstrating that the NEA failed to weather the controversy in the early 1990s due to the gradual erosion of the consecrated power of the arts in the contemporary society.

Focusing on Japan's TV broadcasting industry, the paper analyzed the impact of digitalization and discussed the existent situation and issues from the viewpoint of industrial organization and productivity analysis. In the terrestrial commercial broadcasting market, the regulation is so strong to influence the corporate structure. Advertising is a main revenue. Through the digitalization, it appears hard to chase additional growth. While the capital regulations relaxed, the content regulations have been strengthened and the financial markets have influenced gradually. Productivity analysis also shows the terrestrial digitalization hasn't improved productivity, especially among the local stations, which have influenced on the whole.