COBOL in many ways is a 3GL that was an early attempt at becoming a 4GL language. With the goal being getting business folks to write their own programs, the syntax was verbose and relatively easy to follow.
To elaborate further, true 4GL languages developed later on like MAPPER made a huge difference in productivity in specific verticals when used instead of a 3GL like COBOL. This was the school of thought behind a language "business folks" could use.
Folks who write Oracle based PL/SQL (or in my case, I've written a pile of Progress 4GL code) would be able to tell you that there are some benefits to this style of language though perhaps not to "business based" extent originally hoped for. You've still gotta pretty much be a programmer or at least somewhat technical in order to make the code work for you.
Actually, with the advent of LINQ we're seeing a shift even in the .Net world to have a query language integrated into the syntax itself. Progress 4GL has been doing this since the 80's.
It also re-enforces the point already made about Domain Specific languages as 4GLs are commonly referred to as a subset of DSLs.
We're now seeing new BI and BA products like EasyAsk which is yet again another kick at the cat so to speak in getting business people the results they want without having to track down a programmer or reports specialist. How well these new types of solutions will work remains yet to be seen...