This research paper looks at the possible social and economic impacts of the implementation of the American Dollar in Argentina, through the use of a comparative analysis, between 5 different countries that have implemented numerous forms of dollarization. After an analysis of the socio-economic factors of El Savador, Ecuador, Cambodia, Panama and Zimbabwe, the researcher makes a conclusion on the benefits and harms of the implementation of the dollar. The historical analysis provides insight into the various policy reformation decisions made by different countries across the globe, to combat one major problem, inflation, all with the desire to achieve economic stability. This research paper looks at the applicability of the dollar in the Argentine economy, white analyzing and evaluating economic policy decisions throughout Argentine history. The research paper also finds out that economic prosperity is not a byproduct of simply the geographic location, natural resources or its culture, but rather the effectiveness of the political and economic institutions that govern the country.