Blue LEDs, and the more general Gallium Nitride film technologies have tremendous impact in our everyday world. Enormous, tangible energy savings in lighting. Enabling of zillion medical applications. Blu-Rays, high density DVDs, high mobility transistors...seriously, what discovery do you have in mind?

Secondly: There are different committees for each category. The Peace prize (which I agree it's a joke) is awarded by the Norwegian Nobel committee.

I strongly disagree with your claim that the other prizes, specifically physics and chemistry, are either incompetent or obviously biased.