Playing in France and being second in the world in prestige and having conquered most of the small kingdoms in Europe (Got them to be protectorates then after 50 years or so I started "absorbing" them). I have managed to have really happy people throughout most of the territory I conquered with really no pleasure gardens (minus 1 or 2 in the main territory of Paris) and I have 7 universities throughout my land and have nearly finished off the tech tree. I've never even really been close to revolution and I am in the year 1770 I believe.
The keys are having good ministers and also in the colonies when I conquer an area I build the higher repression building once I have torn down the native American government building. Also, winning battles goes a very long way toward keeping the masses happy. Seems if you don't lose many battles your government rating will stay above 70%. I keep taxes low until I started "absorbing" protectorates and got later in the campaign, but I now tax the lower classes at the middle rate and the nobility at the next to highest (could easily tax at the highest, but I don't want to shrink the size of my economy).
I agree that in troublesome areas dragoons are key. I had to land 10 or so units of dragoons in Morocco until I was able to build a church there and start converting the masses. I don't really see any reason why my absolute monarchy would be overthrown in the next 60 or so turns (maybe a really atrocious leader, but my Queen now is not even 40).
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