We review polarization stabilization techniques based on the polarization attraction effect in low-birefringence fibers. Polarization attraction or pulling may be based on cross-polarization modulation, on parametric amplification, and on Raman or Brillouin scattering. We also review methods for laser frequency conversion based on polarization modulation instabilities in low-and high-birefringence fibers, and photonic crystal fibers. Polarization instabilities in nonlinear fibers may also be exploited for sensing applications.