The expansion of neoliberalization of fisheries in developing countries has been largely driven by political economic decisions. Artisanal fisheries and aquaculture have not been exempt from these privatization measures, the implementation of deregulation measures in the fisheries sector, and commoditization strategies oriented mainly to exports. However, little research has been done about these issues jointly in South America. Therefore, the adoption of these measures and the adaptation and transformation of artisanal fishermen to entrepreneurs were studied in the scallop (Argopecten purpuratus) fishery/aquaculture in Tongoy Bay, Chile. We use qualitative research and an analysis of historical archives to describe a series of political-economic changes, stages, and processes involved in the transformation of the sector. The analysis focuses on conflicts, resistance practices, and value regimes between fishers and farmers to explore the different moral economies at play. Our results show that (a) changes in moral economies are neither automatic nor unidirectional; (b) the State, through its economic policy, technological development institutions, and technology transfer actions, does not directly generate expected results; (c) artisanal fishers who have become entrepreneurs understand and justify competitiveness (or lack of it) because some are more entrepreneurial than others; (d) despite the adoption of neoliberal guidelines, aspects of a more traditional moral economy remain, such as the role of family units in the configuration of enterprises; and, finally, (e) artisanal fishers have moved from a traditional moral economy based on collective and historical rights to a neoliberal moral economy based on the individual and his or her capacity for self-improvement, entrepreneurship, and efficient work management.