We propose a diagonalization-based approach to several important questions in proof complexity. We illustrate this approach in the context of the algebraic proof system IPS and in the context of propositional proof systems more generally. We use the approach to give an explicit sequence of CNF formulas {φn} such that VNP ≠ VP iff there are no polynomial-size IPS proofs for the formulas φn. This provides a natural equivalence between proof complexity lower bounds and standard algebraic complexity lower bounds. Our proof of this fact uses the implication from IPS lower bounds to algebraic complexity lower bounds due to Grochow and Pitassi together with a diagonalization argument: the formulas φn themselves assert the non-existence of short IPS proofs for formulas encoding VNP ≠ VP at a different input length. Our result also has meta-mathematical implications: it gives evidence for the difficulty of proving strong lower bounds for IPS within IPS. For any strong enough propositional proof system R, we define the *iterated R-lower bound formulas*, which inductively assert the non-existence of short R proofs for formulas encoding the same statement at a different input length, and propose them as explicit hard candidates for the proof system R. We observe that this hypothesis holds for Resolution following recent results of Atserias and Muller and of Garlik, and give evidence in favour of it for other proof systems.