As Crossroads says, check your pins.
It looks like you're trying to power your circuit from USB. I recommend reviewing FTDI's "USB bus powered configuration" example from the FT232rl's datasheet.
A quick glance at your schematic shows a couple of potential problems:
You have VCC on USB pin 2 and ground on USB pin 3. That may be a nonstandard pinout of your USB socket but typically VCC is USB pin 1 and ground is USB pin 4.
You have a 10uf cap between 3v3 out and ground; the FTDI reference says it should be 0.1uf.
The FTDI reference says TEST should be tied to ground; you've left it floating.
Finally, the FTDI reference says you can leave RESET floating (as you've done) but the Arduino boards that use the FT232rl have it connected to VCC. I'm not sure what the implication of that is; I've never made a USB powered circuit that uses the FT232RL (all my designs with that chip have been self powered).
I hope this helps. Good luck!