The polarization properties of monochromatic light beams are studied. In contrast to the idealization of an electromagnetic plane wave, finite beams which are everywhere linearly polarized in the same direction do not exist. Neither do beams which are everywhere circularly polarized in a fixed plane. It is also shown that transversely finite beams cannot be purely transverse in both their electric and magnetic vectors, and that their electromagnetic energy travels at less than c. The electric and magnetic fields in an electromagnetic beam have different polarization properties in general, but there exists a class of steady beams in which the electric and magnetic polarizations are the same (and in which energy density and energy flux are independent of time). Examples are given of exactly and approximately linearly polarized beams, and of approximately circularly polarized beams.