Incorrect Economic Assumptions

There are several assumptions in conventional economics which are proving to be wrong based on recent studies into consumption.

Paraphrased from Confronting Consumption (Princen, Maniates, Conca, ed.):

Consumers know everything about what they are purchasing
Social and environmental costs (of extraction, production, and use) of products, not included in prices, are minimal
Price is determined solely by supply and demand (without rigging)
Lower prices and more products will always improve people's lives
Consumers are solely responsible for the impacts of consuming (not the marketers who convince them to purchase and the producers who hide costs they might care about)

And of course (my addition):

Exponential growth in consumption is sustainable given proper economic incentives