The squares of a chessboard are labelled with numbers, as shown below.

[asy]
unitsize(0.8 cm);

int i, j;

for (i = 0; i <= 8; ++i) {
  draw((i,0)--(i,8));
  draw((0,i)--(8,i));
}

for (i = 0; i <= 7; ++i) {
for (j = 0; j <= 7; ++j) {
  label("$\frac{1}{" + string(i + 8 - j) + "}$", (i + 0.5, j + 0.5));
}}
[/asy]

Eight of the squares are chosen, so that there is exactly one chosen square in each row and each column.  Find the minimum sum of the labels of the eight chosen squares.
Numbers the rows 1, 2, 3, $\dots,$ 8 from top to bottom.  Let $r_1$ be the row number of the chosen square in the first column.  (For example, if the 5th square is chosen in the first column, then $r_1 = 5.$)  Then the label of that square is $\frac{1}{r_1}.$

Similarly, if $r_2$ is the row number of the chosen square in the second column, then its label is
\[\frac{1}{r_2 + 1}.\]In general, let $r_i$ be the row number of the chosen square in column $i,$ so its label is
\[\frac{1}{r_i + i - 1}.\]Then we want to minimize
\[\frac{1}{r_1} + \frac{1}{r_2 + 1} + \frac{1}{r_3 + 2} + \dots + \frac{1}{r_8 + 7}.\]By AM-HM,
\[\frac{r_1 + (r_2 + 1) + (r_3 + 2) + \dots + (r_8 + 7)}{8} \ge \frac{8}{\frac{1}{r_1} + \frac{1}{r_2 + 1} + \frac{1}{r_3 + 2} + \dots + \frac{1}{r_8 + 7}},\]so
\begin{align*}
\frac{1}{r_1} + \frac{1}{r_2 + 1} + \frac{1}{r_3 + 2} + \dots + \frac{1}{r_8 + 7} &\ge \frac{64}{r_1 + (r_2 + 1) + (r_3 + 2) + \dots + (r_8 + 7)} \\
&= \frac{64}{r_1 + r_2 + r_3 + \dots + r_8 + 28}.
\end{align*}Since there exists one chosen square in each row, $r_1,$ $r_2,$ $r_3,$ $\dots,$ $r_8$ are equal to 1, 2, 3, $\dots,$ 8 in some order.  Therefore,
\[\frac{1}{r_1} + \frac{1}{r_2 + 1} + \frac{1}{r_3 + 2} + \dots + \frac{1}{r_8 + 7} \ge \frac{64}{1 + 2 + 3 + \dots + 8 + 28} = \frac{64}{36 + 28} =  1.\]Equality occurs when we choose all eight squares labelled $\frac{1}{8},$ so the smallest possible sum is $\boxed{1}.$