The WildStar economy takes center stage in a new developer blog on the official site. Economy is an all-encompassing term that includes "anything related to crafting, items, vendors, rewards, loot drops, and of course balancing the inputs and outputs of the actual in-game economy."
WildStar's items are built on a system we internally call the Circuit Board Crafting System (CBC). This system is used for pretty much any piece of gear that you can equip. It is the basis for one of our two crafting systems, and is also used by non-crafters to modify their items. This post will focus on how we expect Modding to play out. Think of it as a teaser for crafting as well, which I know we are planning to talk more about in the coming months.