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Calculators in Mathematics Teaching and Learning: 
Past, Present, and Future
The above link is to an article by Bert K. Waits and Franklin Demana that discusses calculator use in mathematics education throughout the last few decades. This paper includes a brief history of calculator use as well as the effect that calculators have had on the teaching of mathematics.

The effective use of technology in the mathematics classroom depends on the teacher. As with any teaching tool, technology can be used well or poorly.

Teachers should use technology to enhance their students' learning opportunities by selecting or creating mathematical tasks that take advantage of what technology can do efficiently and well—graphing, visualizing, and computing. 

Technology does not replace the mathematics teacher. When students are using technological tools, they often spend time working in ways that appear somewhat independent of the teacher, but this impression is misleading.

The teacher plays several important roles in a technology-rich classroom, making decisions that affect students' learning in important ways. Initially, the teacher must decide if, when, and how technology will be used.

As students use calculators or computers in the classroom, the teacher has an opportunity to observe the students and to focus on their thinking. As students work with technology, they may show ways of thinking about mathematics that are otherwise often difficult to observe.

Technology aids in assessment, allowing teachers to examine the processes used by students in their mathematical investigations as well as the results, thus enriching the information available for teachers to use in making instructional decisions.
Adapted from NCTM Principles and Standards for School Mathematics
Graphing Calculators: Issues Affecting Secondary School Teachers and University Professors
Implementing new technology into a classroom can be very intimidating for a teacher who is not familiar with using such technology.  It will take extra time and effort to learn how to use the chosen technology.  There are many types of professional development available for teachers that focus on using graphing calculators, data collection devices, and computer software.  When using new technology, the teacher often becomes a student again and it is quite possible that students will be more familiar with the technology than the teacher. In these situations, teachers must accept the fact that this is a learning process for everyone involved.  Technology can force a teacher out of his or her comfort zone, but the increase in mathematical opportunity makes it well worth the extra work.
Works Cited