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In order to understand the rise of anti-Semitism in Germany, the phenomenon must be understood in sociological terms. Although it has assumed different forms in different periods, the causes of anti-Semitism have always been structural. This article traces the ways in which hostility toward Jews results from power struggles between groups. Each struggle produces unique circumstances and worldviews: while the particular group of the Jews sometimes appears to offer a framework for general revindications of freedom, they also represent an Other whose proximity and antagonism are feared. Considering the contemporary context of 1929, marked by acute economic and political crisis, the sociologist observes that anti-Semitism will only become more widespread. He concludes that the only option left to Jews is to emigrate to Palestine. Failing that, they must face the situation with lucidity.