The politics of sexuality in modern Germany was complicated, contradictory, and multivalent. Reflecting on how to conceptualize that complexity is worthwhile, for doing so allows us to formulate multiple interpretive perspectives. After briefly sketching two of the most common scholarly interpretations, this article explores the usefulness of a third model, one in which the political dynamic of the broad and complex debate about sexuality is neither univalent (i.e., moving toward greater freedom or greater repression) nor binary (moving toward both), but “trivalent.” This perspective reveals the usefulness of seeing a political dynamic set up by conflicts and contrasts among three loose groupings that stand out among the many voices debating the nature and meaning of sexuality. At the same time, it uncovers and defines the productivity of multiple contradictions and conflicts, as well as the contingent coherences, they generated. Making use of particular readings of Foucauldian theory and the theory of complex systems, the article suggests the value of thinking about the politics of sexuality in terms of processes of change, as well as structures of power.