No, although...

There is, always, always, always, and inevitably, a tradeoff between personal freedom and personal safety / security (all other things being equal, at least).

That is the single most important reason why all of the former real-socialist countries of Eastern Europe had a sudden rise in crime after 1989 - a rise that some haven't been able to completely contain yet.

More specifically...

It does sound like a good idea, at first - tracking devices make you able to trace people who go missing, or criminal suspects that try to go underground.

But this implies all of its darker sides too: if you were a stalker, a tracking device is exactly what you wish you could have on your victim; if you were a kidnapper, a tracking device will help you find your victim just as much as it will help the victim's family afterwards; if you were a paparazzo, it would help you prove who is secretly dating who; if you were a political campaign strategist, it would help you see who is meeting with people from the rival team; if you were a jealous spouse, it would be what you need to make sure who your spouse is cheating you with; if you were a mob boss, it would override the witness protection measures taken for whoever declared against you... and then yes, if you were a cop intent on framing someone or a government officer intent on watching your enemies and critics, then that would be a wet dream.

The problems with this technology are obvious: who has access to the tracking??? If it is the whole of society, then any and all of the above issues might apply; but if it is only police or certain instances of government, then society cannot oversee the good use of the technologies. And how exactly would it be installed??? Because if you are intent on kidnapping or disappearing someone, you'd probably try to take it off: either it's safe and easy to take it off, in which case every criminal would learn how to and the purpose wouldn't be met; or it's hard and unsafe, in which case you'd have thousands unnecessary deaths and injuries from people whose tracking device was attempted to be taken off...

And that's just to talk about the practical...

The philosophical goes further.

In essence, personal freedom is about being allowed a space for yourself, and being free to act as you see fit in that space. That space is sacred, and it is there in recognition of your original rights as a person, which are prior (both in time and in essentiality) to your rights as a social animal and as a citizen. And that space does not exist if you are forced to disclose your location, least of all at all times, because part of the definition of that space is that your location itself is nobody else's business unless it constitutes some form of trespassing, and that it is irrelevant to the existence and exercise of all your rights as a person and social animal.

Effectively, disclosing your location at all times is like forcing you to tatoo your race, religion and sexual orientation somewhere where everyone can see them...

I do see benefits, but I don't see how the benefits would outweigh the losses.