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Nic_Smith comments on I want to learn economics - Less Wrong
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Indeed. They have many good ideas, but more than a fair share of bad ones too, and the absolute worst ideas seem to be at the very core of the school of thought. "Awful Austrians" states the case pretty well, also worth looking at is Bryan Caplan's "Why I Am Not an Austrian Economist"
There's also an entertaining back and forth between Caplan and Walter Block (an Austrian) which expands on that essay (http://lesswrong.com/lw/ar/awful_austrians/35kn). I'd say Caplan wins decisively.