PhD or MBA?

What is the difference between PhD (Business related) and MBA? Which degree is better in the longer run?

Some people suggest me to study PhD instead of MBA, they think MBA knowledge can even be gained by self-reading, and PhD degree is so much better appreciated in the long run.

Some comments needed!

Thanks.

Actually the answer depends on your interest and career objective. MBA is an professional degree which may require applicants have solid professional know how with sound academic background. You can, probably, land your job in finance, management consulting, general management etc after completing MBA. PhD is obviously a research oriented program. To be a successful candidate, you should equip with not only very strong academic background, including striking GMAT/GRE score, but also commitment to treating academic as your career. PhDs normally work in higher instituitions such as University and research center. Nevertheless, I don't think one can self-learn MBA. Communication and interpersonal skills, at least, can hardly be obtained from just reading some MBA textbooks.