1. A cure-all or a remedy which is claimed to be a curative of all diseases: There are so many physical and mental situations that need panaceas and no one has come even close to finding a way of solving most of them.
2. A universal remedy or easy solution that will make things regarding a situation better: As much as people want conditions to be better, there is no panacea for the world's problems.
3. Etymology: from Latin panacea, "an all-healing herb" (variously identified), from Greek panakeia, "cure-all", from panakes, "all-healing"; from pan-, "all" + akos, "remedy, cure", from iasthai, "to heal".

The name Panacea comes directly from the name of one of the daughters of Aesculapius, The Greek god of healing. Another daughter was Hygeia.

Both daughters endeavored to follow their father's objectives, but they took different approaches. Panacea promoted the use of specific remedies; such as, medicines, salves, and other curatives as indicated by particular medical needs.

Hygeia was more concerned with preserving health or what is now known as "preventive medicine".

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