The ‘Blue Economy’ is often framed as a revolutionary and transformative approach to marine and fishery development. However, scholars increasingly critique the Blue Economy in hopes that equity‐related concerns can become more prevalent. While these efforts are important, historical materialist perspectives can more deeply challenge the assumptions and limits of economistic thinking. In that vein, Racial Capitalism posits that capitalist markets promote, solidify and rely on racial hierarchy to secure differential value accumulation. This study applies a Racial Capitalist analysis to illustrate how the expansion of capitalist social relations corresponded the re‐solidification of white supremacy to (re)produce systemic inequality in Black maritime labour, and specifically fisheries labour, on the U.S. eastern seaboard. In this case, which occurred across several states and in a critically important marine‐fishery system, the expansion of market relations corresponded with labour exploitation, naturalization of hierarchy and inequitable distribution of socioeconomic harm for Black workers. I identify three lessons from this case that Blue Economy and fisheries scholars should heed; specifically, be wary of market utopianism, technological innovation is not inherently progressive, and systemic exploitation still matters.
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