In today s world economy, is earning a PhD truly worth it?

Update: I just completed my undergraduate in Multinational Management with a certificate in international business. My desired career path is in foreign service helping in need & underdeveloped countries (for example, in a government agency like USAID or the state department). I feel I will be more competitive with a... show more I just completed my undergraduate in Multinational Management with a certificate in international business. My desired career path is in foreign service helping in need & underdeveloped countries (for example, in a government agency like USAID or the state department). I feel I will be more competitive with a masters degree in Global Affairs or a related field (as specified on their websites). In the future, is earning a PhD worth it?
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