The idea of Algol was like that: a standard language to describe algorithms. Mostly for publishing, where it served in this role (for ACM) for about 30 years.
I myself like the idea, but looking at how things develop in general I have doubts. Such a language must be austere, but who wants austere?
Wouldn't that eliminate a lot of the re-work that goes in maintaining all of these libraries in different languages?