We study the steady-state and dynamic behavior of an optically pumped
J = 0 --> J = 1 --> J = 0 laser operating with an isotropic ring cavit
y and an axial magnetic field, The gain anisotropy induced by a linear
ly polarized pump-laser field leads, in the steady state, to locking o
f the two circularly polarized components of the laser field, which ac
quires a linear polarization parallel to that of the pump field. In th
e presence of laser intensity instabilities, however, locking does not
occur, and polarization instabilities appear. For the first time to o
ur knowledge, polarization chaos has been found in a laser system.