He occupied and continues to occupy many important and powerful positions in various literary bodies including the presidency of Kerala Sahitya Akademi and the chairmanship of Tunchan Memorial Trust . He was an Executive Member of the Kendra Sahitya Akademi . The Library of Congress has in its collection sixty-two books, mostly by MT and some on him. Also, some of them are translations of his works into English. MT joined the Mathrubhumi Group of Publications in 1956. When he retired from there in 1998, he was their editor of periodicals and Chief Editor of Mathrubhumi Illustrated Weekly . On 2 June 1996, he was bestowed with honorary degree by the Calicut University . [ citation needed ]
He is an Indian Marxist economist and political commentator and taught at the Centre for Economic Studies and Planning in the School of Social Sciences at Jawaharlal Nehru University in New Delhi. He was the vice-chairman of the Planning Board of the Indian state of specialization is macroeconomics and political economy, areas in which he has written a number of books and articles. His books include Time, Inflation and Growth (1988), Economics and Egalitarianism (1990), Whatever Happened to Imperialism and Other Essays (1995), Accumulation and Stability Under Capitalism (1997).