It also involves letting them make decisions that can have bad outcomes that are largely harmless when they're young, like getting a stomach ache from too much candy, and clearly connecting the act to the consequence. So far it's worked pretty well, our kids have a good idea of what's healthy and what's not.
We're also going to do something like set up Etsy stores for the kids so that they get experience with buying supplies and making a product that's good enough for a stranger to buy, manipulating the web page (and eventually we'll move on to them making making their own Shopify or Wordpress sites), and running social media accounts for the businesses and what not. We're already getting one store started for our five year old who's really interested in making money (for now).
We're doing a lot of it now, but we're planning on having them take on more and more responsibility as they get older. Instead of doing chores (or in addition), they'll be actually interacting with the world in a way that's analagous to adulthood. Who knows how it will play out, but we're excited to see what happens.