Should I use recursion or memoization for an algorithm?

I believe you might be confusing memoization (which is, as others have noted, an optimization strategy for recursive algorithms) with dynamic programming (which simulates a recursive solution but does not actually use recursion). If that was your question I'd say it would depend on your priorities: high runtime efficiency (dynamic programming) or high readability (memoization, as the recursive solution of the problem is still present in the code).