Lyric discussion by Dsalmiitetn 

Cover art for Welcome to the Machine lyrics by Pink Floyd

This song, as Waters said, is about the record industry, just like "Freak on a Leash" or a number of other songs. I believe it can have multiple meanings too, much like the government, (espiecally in post-Patriot Act America). We're not far from "1984" or the Soviet Union, or even Nazi Germany, the song is a self-fulfilling prophecy.