Critical educational researchers in the United States and elsewhere are missing something essential in their inattention to considerable support among Black urban women for market-based educational reforms, including vouchers. While the educational left has engaged in important empirical and theoretical work demonstrating the particularly negative impact of educational marketization on the disenfranchised, not enough attention has been paid to the crucial role the educationally dispossessed have actually played in building these otherwise conservative reforms. Engaging with Michael Apple's arguments concerning processes of identity formation within conservative movement-making, we can begin to conceptualize the importance of subaltern groups in market-based educational reforms. Yet ethnographic work conducted with Black voucher mothers, school officials, and community leaders in Milwaukee, Wisconsin, shows that this subaltern process of conservative formation does not always occur in the manner theorized by Apple and his colleague Anita Oliver, in which ideologically relatively unformed parents and families are "pushed" to the Right by an intransigent state. Although the conceptual tools they provide are the foundation of our ability to imagine a more compelling theorization of dynamics and social actors in Milwaukee, significant conceptual--not to mention empirical--work remains to be done. In this essay I renovate Apple and Oliver's arguments concerning conservative modernization in order to make them more resonant with the processes of race, gender, subaltern identity formation and agency evident in my ethnographic field research with low-income African-American women choosing vouchers for their families in Milwaukee, Wisconsin. Aided by critical, feminist, and post-structural theorists both within and outside educational disciplines I assess the utility and limitations of Apple and Oliver's framework in explaining the mobilization around "parental choice" and vouchers in Milwaukee. Based on my conceptual and empirical findings, I retheorize pro-voucher African-American politicians, community leaders, and poor and working class women (and their families) as representative of a subaltern "third force" in conservative formation. Their tactical investments in fleeting conservative alliances and subject positions, I argue, are likely to play an increasingly significant role in educational and social reform both in the United States and elsewhere.