Longman Dictionary of Contemporary English homepage

Date: 1500-1600
Language: Latin
Origin: Greek panakeia, from pan- ( PAN-) + akeisthai 'to cure'

panacea

 noun
     
pan‧a‧cea [countable]
something that people think will make everything better and solve all their problems [= cure-all]
panacea for
There is no panacea for the country's economic problems.
Definition from the Longman Dictionary of Contemporary English
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