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From The Collaborative International Dictionary of English v.0.48:
Nostrum \Nos"trum\ (-tr[u^]m), n.; pl. Nostrums (-tr[u^]mz). [Neut. sing. of L. noster ours, fr. nos we. See Us.] [1913 Webster] 1. A medicine, the ingredients of which are kept secret for the purpose of restricting the profits of sale to the inventor or proprietor; a quack medicine. [1913 Webster] 2. Any scheme or device proposed by a quack. [1913 Webster] The incentives of agitators, the arts of impostors and the nostrums of quacks. --Brougham. [1913 Webster] 3. Any scheme asserted to solve a problem, but with no objective basis for belief in its effectiveness; esp., in politics, a scheme or proposal likely to prove popular with voters. [PJC]