The Fundamental Problem of General Proof Theory

I see the question what it is that makes an inference valid and thereby gives a proof its epistemic power as the most fundamental problem of general proof theory. It has been surprisingly neglected in logic and philosophy of mathematics with two exceptions: Gentzen's remarks about what justifies the rules of his system of natural deduction and proposals in the intuitionistic tradition about what a proof is. They are reviewed in the paper and I discuss to what extent they succeed in answering what a proof is. Gentzen's ideas are shown to give rise to a new notion of valid argument. At the end of the paper I summarize and briefly discuss an approach to the problem that I have proposed earlier.