Jan Fagerberg’s research focuses on global economic change, its driving forces, and what individual countries can do to cope with the challenges and opportunities that arise. In this chapter Fagerberg discusses the influence of Schumpeter’s theorizing on his work. Three themes, central to his research, and for which Schumpeter’s works have provided inspiration and guidance, are considered. The first concerns the international competitiveness of a country, what it means, how it is shaped, and the implications for policy. A second theme has to do with the large differences in the levels of economic development across countries, and what poor countries can do to exploit the potential for catching up. The third theme concerns the ongoing global green shift. The chapter concludes with some thoughts on the relevance of a Schumpeterian perspective for the study of future economic development.