In this study, the industrial policies of Argentina and Turkey in the post2001 crisis are analyzed from a comparative perspective. The study discusses both countries’ industrial policies through the prism of populist economic agendas. In particular, the study investigates foreign trade policies, investment incentives, sectoral policies and privatization attempts in Argentina and Turkey. Within the scope of this research, comparative method was used. Although it was a qualitative study, descriptive statistics, macroeconomic parameters and shifts on industrial policy preferences were addressed. As a consequence, this study found that Argentina followed selective industrial policy by state led development while Turkey pursued horizontal industrial policy in accordance with a liberal agenda. When both pursued those policies, it might be said that Argentina had a multi class populist alliance, as Turkey mostly followed one or single class populist cooperation.