Good brief article on the potential for dollarization in Argentina.

https://www.aier.org/article/lessons-from-argentinas-dollarization-debate-the-challenge-of-the-commitment-device

Two main points.

First, those who think dollarization is necessarily worse than Argentina having a central bank continue to set monetary policy are committing the nirvana fallacy, comparing the real-world imperfections of dollarization to an imaginary ideal of central banking, rather than to the real-world imperfections of Argentina's central bank.

Second, the history of Argentina's central bank is so dismal, and the system so devoid of constraints, that it cannot demonstrate credible commitment to monetary discipline. Given that, real-world dollarization is probably less bad than real-world Argentinian central banking.