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Nostrums, n.

Pronunciation: ˈnästrəms

Meaning: A nostrum is a word that can be used in two distinct contexts. For instance, in the field of pharmaceuticals, a nostrum could be a medicine of some sort, especially one that is not truly effective or legitimate, often prepared by a quack. But a nostrum could also refer to some sort of pet project or favorite go-to solution, especially one for bringing about some sort of social change or political reform.

Usage:

• Don’t even talk to him because he has a reputation for being a charlatan who sells nostrums and other forms of quack medicine.
• During arduous times, populist nostrums gain in popularity.
• Despite its flaws, politicians find this nostrum beguiling, since the costs are hidden from the public.