Basically I always enslave. It brings lots of trademoney, it increases my cities and it brings that 0.5% growth in the traded cities and it loweres the angry population quite a bit. Not even a 425 population village will be spared my enslavement, for while it won't give me much population to the main cities it still adds that half percentage to the cities within range.
If I'm really pressed for money I put them to the sword, but only if the city is large enough to give a suitable bonus. I hardly ever occupy.
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