Better tracking technology needed

Following the news on the crash of that Malaysian Boeing 777 passenger jet the past couple of weeks I was astonished to learn how unable we are to track a plane at all times once its transponder has been disabled.
Considering how well the powers that be track each and everyone of our movements daily, I was totally surprised when it was revealed that once the transponder was disabled on the plane, it virtually disappeared off the grid.
Now a days you can barely walk across the street without some form of technology tracking you. Cell phones have Global Positioning Satellite technology built into them.
Security cameras are everywhere often catching you on tape as you walk in or out of businesses, etc.
While it is likely the plane crashed into the ocean, the entire weakness exposed by the lack of some form of technology that would allow us to know where all passenger planes are at all times did make me think, we need to do something about this.
What if terrorists exploited this weakness and stole a plane and then flew it, filled with explosives, into the heart of a city?
The other problem this weakness caused was tremendous hurt for the families of those on board the plane. Not knowing what happened to them or where the plane ended up has been extremely painful.
I heard one airline industry expert say to equip planes with better tracking technology would be costly. He wondered if passengers would be willing to pay more in ticket prices to cover its cost.
I think this is a no brainer after this plane going missing.
–Until then,
Ken