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What is a panacea?

What is a panacea? Here are some definitions.

Noun
  1. A remedy believed to cure all disease and prolong life that was originally sought by alchemists; a cure-all.
  2. Something that will solve all problems.
  3. (obsolete) A particular plant believed to provide a cure-all.
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Examples
Alchemists never transmuted metals, never found a panacea, and never discovered the fountain of youth.
It's not a panacea, a cure-all for farm financial ills, or a guarantee of profit.
They are here for serious pampering, thalassotherapy being the fashionable panacea for 21st Century stress.
Political Straussians and their neoconservative allies argue that the spread of democracy is a panacea for many of America's global problems.
Although no panacea can be prescribed, co-education and free mingling of both sexes at the primary level would be of great help.
Military power is not a panacea unless it is coupled with the soft skills of nation-building and, yes, global social work.

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